Martin Midstream Partners (MMLP) Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of Martin Midstream Partners (NASDAQ:MMLP) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

Other analysts have also issued reports about the stock. Royal Bank of Canada restated a hold rating and set a $18.00 target price on shares of Martin Midstream Partners in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Martin Midstream Partners from a hold rating to a buy rating and set a $19.00 target price for the company in a research report on Wednesday, October 18th. Stifel Nicolaus dropped their price target on shares of Martin Midstream Partners from $19.00 to $17.00 and set a hold rating for the company in a research report on Thursday, October 26th. Finally, B. Riley reiterated a buy rating and issued a $18.00 price target on shares of Martin Midstream Partners in a research report on Monday, December 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Martin Midstream Partners currently has an average rating of Hold and an average target price of $19.33.

Shares of Martin Midstream Partners (MMLP) opened at $14.00 on Friday. The company has a current ratio of 2.04, a quick ratio of 0.86 and a debt-to-equity ratio of 2.78. The stock has a market cap of $538.26, a P/E ratio of 30.43 and a beta of 1.50. Martin Midstream Partners has a 12-month low of $12.70 and a 12-month high of $20.90.

In related news, insider Ruben S. Martin bought 5,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $13.61 per share, with a total value of $68,050.00. Following the completion of the acquisition, the insider now owns 140,598 shares of the company’s stock, valued at $1,913,538.78. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert D. Bondurant bought 2,000 shares of the stock in a transaction dated Tuesday, November 14th. The stock was bought at an average cost of $13.58 per share, for a total transaction of $27,160.00. Following the acquisition, the chief financial officer now directly owns 39,314 shares of the company’s stock, valued at approximately $533,884.12. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 9,268 shares of company stock valued at $129,797. Company insiders own 17.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MMLP. Stephens Inc. AR lifted its holdings in shares of Martin Midstream Partners by 6.5% in the second quarter. Stephens Inc. AR now owns 28,733 shares of the pipeline company’s stock worth $504,000 after buying an additional 1,754 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Martin Midstream Partners by 20.0% in the second quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock worth $8,116,000 after buying an additional 77,177 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Martin Midstream Partners by 1.9% in the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after buying an additional 602 shares in the last quarter. CNH Partners LLC lifted its holdings in shares of Martin Midstream Partners by 62.3% in the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock worth $535,000 after buying an additional 11,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Martin Midstream Partners by 192.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after buying an additional 6,280 shares in the last quarter. 31.17% of the stock is currently owned by hedge funds and other institutional investors.

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Martin Midstream Partners Company Profile

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

Analyst Recommendations for Martin Midstream Partners (NASDAQ:MMLP)

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