Bank of America Corp DE reduced its position in shares of StoneMor Partners L.P. (NYSE:STON) by 32.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 333,763 shares of the company’s stock after selling 158,519 shares during the quarter. Bank of America Corp DE owned about 0.88% of StoneMor Partners worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in StoneMor Partners by 45.3% during the 2nd quarter. Bank of Montreal Can now owns 660,000 shares of the company’s stock worth $3,980,000 after purchasing an additional 205,815 shares during the last quarter. UBS Group AG raised its holdings in StoneMor Partners by 45.7% during the 1st quarter. UBS Group AG now owns 95,629 shares of the company’s stock worth $594,000 after purchasing an additional 30,007 shares during the last quarter. Crescent Grove Advisors LLC increased its stake in shares of StoneMor Partners by 176.9% in the 2nd quarter. Crescent Grove Advisors LLC now owns 49,509 shares of the company’s stock valued at $299,000 after acquiring an additional 31,630 shares during the last quarter. Finally, Benchmark Capital Advisors increased its stake in shares of StoneMor Partners by 70.0% in the 2nd quarter. Benchmark Capital Advisors now owns 42,500 shares of the company’s stock valued at $256,000 after acquiring an additional 17,500 shares during the last quarter. 48.11% of the stock is owned by hedge funds and other institutional investors.
Shares of STON stock opened at $4.46 on Friday. The stock has a market capitalization of $179.54 million, a PE ratio of -2.28 and a beta of -0.48. StoneMor Partners L.P. has a one year low of $3.43 and a one year high of $7.20.
StoneMor Partners (NYSE:STON) last announced its quarterly earnings results on Thursday, November 1st. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). The firm had revenue of $77.95 million during the quarter.
In related news, major shareholder Axar Capital Management L.P. purchased 20,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was bought at an average cost of $4.46 per share, with a total value of $89,200.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders bought 798,933 shares of company stock valued at $3,981,853. 9.80% of the stock is currently owned by company insiders.
A number of analysts have recently commented on STON shares. Zacks Investment Research cut StoneMor Partners from a “hold” rating to a “sell” rating in a research note on Saturday, July 21st. B. Riley lowered their price target on StoneMor Partners from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, July 19th.
StoneMor Partners Company Profile
StoneMor Partners L.P., together with its subsidiaries, owns and operates cemeteries and funeral homes in the United States. It operates through two segments, Cemetery Operations and Funeral Home Operations. The company's cemetery products and services include interment rights, such as burial lots, lawn crypts, mausoleum crypts, cremation niches, and perpetual care rights; merchandise comprising burial vaults, caskets, grave markers and grave marker bases, and memorials; and installation services for burial vaults, caskets, and other cemetery merchandise, as well as others.
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