Short Interest in Martin Midstream Partners L.P. (NASDAQ:MMLP) Decreases By 36.8%

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the target of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 56,820 shares, a decrease of 36.8% from the May 14th total of 89,898 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 35,232 shares, the days-to-cover ratio is presently 1.6 days.

Martin Midstream Partners Price Performance

MMLP stock opened at $2.68 on Monday. The firm has a market capitalization of $104.84 million, a P/E ratio of -5.25 and a beta of 0.51. The business’s 50-day moving average is $2.61 and its two-hundred day moving average is $2.69. Martin Midstream Partners has a 1 year low of $2.21 and a 1 year high of $3.54.

Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported ($0.17) earnings per share (EPS) for the quarter. The business had revenue of $187.67 million during the quarter.

Martin Midstream Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.005 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.02 dividend on an annualized basis and a yield of 0.7%. Martin Midstream Partners’s dividend payout ratio (DPR) is currently -3.92%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MMLP. Stifel Nicolaus lowered their price target on Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating for the company in a report on Thursday, March 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Martin Midstream Partners in a research note on Friday, May 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $3.00.

Institutional Investors Weigh In On Martin Midstream Partners

Several hedge funds and other institutional investors have recently made changes to their positions in MMLP. Bank of America Corp DE raised its position in shares of Martin Midstream Partners by 216.0% during the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock worth $1,714,000 after acquiring an additional 397,163 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Martin Midstream Partners by 221.2% during the 3rd quarter. Artisan Partners Limited Partnership now owns 107,339 shares of the pipeline company’s stock worth $328,000 after acquiring an additional 73,926 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Martin Midstream Partners during the 3rd quarter worth about $41,000. Susquehanna International Group LLP raised its position in shares of Martin Midstream Partners by 298.9% during the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock worth $135,000 after acquiring an additional 33,064 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Martin Midstream Partners by 139.3% during the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock worth $63,000 after acquiring an additional 14,010 shares in the last quarter. Institutional investors and hedge funds own 34.90% of the company’s stock.

About Martin Midstream Partners

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.