Raymond James Financial Services Advisors Inc. lessened its holdings in shares of StoneMor Partners L.P. (NYSE:STON) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,007 shares of the company’s stock after selling 14,492 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in StoneMor Partners were worth $466,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Oaktree Capital Management LP grew its position in shares of StoneMor Partners by 22.0% in the third quarter. Oaktree Capital Management LP now owns 1,525,000 shares of the company’s stock valued at $9,943,000 after purchasing an additional 275,000 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in shares of StoneMor Partners in the third quarter valued at approximately $600,000. Chessman Wealth Strategies RIA acquired a new position in shares of StoneMor Partners in the fourth quarter valued at approximately $118,000. Benchmark Capital Advisors acquired a new position in shares of StoneMor Partners in the fourth quarter valued at approximately $115,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of StoneMor Partners by 1,652.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,246 shares of the company’s stock valued at $153,000 after purchasing an additional 15,319 shares during the last quarter. 41.62% of the stock is currently owned by hedge funds and other institutional investors.
StoneMor Partners L.P. (NYSE STON) opened at $6.87 on Friday. StoneMor Partners L.P. has a 12-month low of $4.61 and a 12-month high of $10.15. The company has a debt-to-equity ratio of 2.24, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $262.29, a P/E ratio of -8.08 and a beta of 0.04.
Separately, B. Riley decreased their target price on StoneMor Partners from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $7.00.
In related news, major shareholder Value Equity Fund Gp L. Oaktree purchased 104,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was acquired at an average cost of $5.23 per share, for a total transaction of $544,202.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fund Gp I. L.P. Oaktree purchased 12,373 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was bought at an average price of $6.00 per share, with a total value of $74,238.00. The disclosure for this purchase can be found here. Insiders bought 400,706 shares of company stock worth $2,203,351 in the last ninety days. 9.80% of the stock is owned by company insiders.
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About StoneMor Partners
StoneMor Partners L.P. owns and operates cemeteries and funeral homes. The Company operates through two segments: Cemetery Operations and Funeral Homes. Its Cemetery Operations segment sells interment rights, caskets, burial vaults, cremation niches, markers and other cemetery related merchandise. Its Funeral Homes segment offers a range of services, including family consultation, final expense insurance products, the removal and preparation of remains, provision of caskets and related funeral merchandise, the use of funeral home facilities for visitation, worship and performance of funeral services, and transportation services.
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