Martin Midstream Partners L.P. (NASDAQ:MMLP) Sees Large Growth in Short Interest

Martin Midstream Partners L.P. (NASDAQ:MMLP) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 284,800 shares, a growth of 21.9% from the March 31st total of 233,600 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 332,700 shares, the days-to-cover ratio is presently 0.9 days.

Separately, Zacks Investment Research raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 28th.

MMLP traded down $0.03 during trading on Tuesday, reaching $2.14. 234 shares of the company’s stock were exchanged, compared to its average volume of 309,384. Martin Midstream Partners has a 1 year low of $1.03 and a 1 year high of $3.42. The stock has a market capitalization of $83.04 million, a P/E ratio of 36.17 and a beta of 2.99. The company’s fifty day simple moving average is $2.45 and its 200-day simple moving average is $2.00.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, April 21st. The pipeline company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. Martin Midstream Partners had a net margin of 0.33% and a negative return on equity of 6.77%. As a group, analysts predict that Martin Midstream Partners will post -0.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Friday, May 7th will be issued a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, May 6th. Martin Midstream Partners’s dividend payout ratio (DPR) is 18.18%.

Several large investors have recently bought and sold shares of MMLP. RFG Advisory LLC purchased a new position in shares of Martin Midstream Partners during the 1st quarter valued at approximately $25,000. Virtu Financial LLC increased its position in shares of Martin Midstream Partners by 83.6% during the third quarter. Virtu Financial LLC now owns 23,655 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 10,774 shares in the last quarter. Morgan Stanley raised its stake in Martin Midstream Partners by 165.8% in the 3rd quarter. Morgan Stanley now owns 262,007 shares of the pipeline company’s stock valued at $307,000 after purchasing an additional 163,431 shares during the last quarter. Finally, Barclays PLC boosted its stake in Martin Midstream Partners by 60.5% during the 4th quarter. Barclays PLC now owns 1,500,000 shares of the pipeline company’s stock worth $2,145,000 after purchasing an additional 565,200 shares during the last quarter. 27.41% of the stock is owned by hedge funds and other institutional investors.

Martin Midstream Partners Company Profile

Martin Midstream Partners LP engages in a diverse set of operations focused primarily in the United States Gulf Coast region. It operates through the following segments: Terminalling and Storage, Transportation, Sulfur Services, and Natural Gas Liquids. The Terminalling and Storage segment offers storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of various grades and quantities of industrial, commercial, and automotive lubricants and greases.

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