Golar LNG Partners (GMLP) Short Interest Down 30.4% in March

Golar LNG Partners (NASDAQ:GMLP) was the recipient of a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 1,204,027 shares, a decline of 30.4% from the March 15th total of 1,730,784 shares. Based on an average daily volume of 565,596 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.4% of the company’s shares are sold short.

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of Golar LNG Partners by 37.5% during the third quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock valued at $15,110,000 after buying an additional 181,868 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Golar LNG Partners by 16.5% during the fourth quarter. First Trust Advisors LP now owns 464,238 shares of the shipping company’s stock valued at $10,585,000 after buying an additional 65,759 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Golar LNG Partners by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 159,098 shares of the shipping company’s stock valued at $3,627,000 after buying an additional 48,191 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Golar LNG Partners by 1.8% during the fourth quarter. California Public Employees Retirement System now owns 154,810 shares of the shipping company’s stock valued at $3,530,000 after buying an additional 2,679 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Golar LNG Partners by 67.1% during the fourth quarter. BlackRock Inc. now owns 150,648 shares of the shipping company’s stock valued at $3,434,000 after buying an additional 60,476 shares during the last quarter. 43.99% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages have recently issued reports on GMLP. Zacks Investment Research raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Bank of America lowered their target price on shares of Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, March 5th. BidaskClub raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. ValuEngine lowered shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Jefferies Group began coverage on shares of Golar LNG Partners in a research note on Monday, December 18th. They set a “buy” rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.60.

NASDAQ:GMLP opened at $18.22 on Tuesday. Golar LNG Partners has a 1-year low of $16.78 and a 1-year high of $23.49. The stock has a market capitalization of $1,305.66, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91. The company has a quick ratio of 1.71, a current ratio of 1.73 and a debt-to-equity ratio of 1.63.

Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. The company had revenue of $90.11 million during the quarter, compared to analyst estimates of $87.09 million. Golar LNG Partners had a net margin of 29.85% and a return on equity of 17.19%. analysts predict that Golar LNG Partners will post 1.16 earnings per share for the current fiscal year.

Golar LNG Partners announced that its board has approved a stock buyback plan on Monday, March 5th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the shipping company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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Golar LNG Partners Company Profile

Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.

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