Martin Midstream Partners (NASDAQ:MMLP) Share Price Passes Above 50 Day Moving Average of $6.78

Shares of Martin Midstream Partners L.P. (NASDAQ:MMLP) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.78 and traded as high as $7.25. Martin Midstream Partners shares last traded at $7.21, with a volume of 5,159 shares traded.

A number of analysts recently commented on MMLP shares. TheStreet downgraded shares of Trinity Industries from a “b” rating to a “c” rating in a report on Thursday, April 25th. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.33.

The company has a quick ratio of 0.22, a current ratio of 0.36 and a debt-to-equity ratio of 2.31. The company has a fifty day moving average of $6.78. The firm has a market cap of $279.30 million, a price-to-earnings ratio of -37.11, a P/E/G ratio of 6.58 and a beta of 1.09.

Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, April 24th. The pipeline company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.31). The business had revenue of $250.97 million during the quarter, compared to the consensus estimate of $276.53 million. Martin Midstream Partners had a negative return on equity of 10.10% and a net margin of 2.78%. As a group, equities research analysts anticipate that Martin Midstream Partners L.P. will post 0.54 EPS for the current year.

In other news, insider Randall Tauscher bought 20,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average cost of $6.81 per share, with a total value of $136,200.00. Following the completion of the transaction, the insider now directly owns 72,371 shares in the company, valued at approximately $492,846.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chris H. Booth bought 9,500 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $6.75 per share, for a total transaction of $64,125.00. Following the completion of the transaction, the vice president now owns 25,803 shares of the company’s stock, valued at $174,170.25. The disclosure for this purchase can be found here. Over the last three months, insiders bought 44,285 shares of company stock worth $306,465. 17.00% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in MMLP. Jane Street Group LLC purchased a new position in shares of Martin Midstream Partners in the fourth quarter worth approximately $109,000. Barclays PLC grew its position in Martin Midstream Partners by 124.5% during the fourth quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock valued at $156,000 after purchasing an additional 8,408 shares in the last quarter. Sippican Capital Advisors purchased a new position in Martin Midstream Partners during the first quarter valued at approximately $189,000. Virtu Financial LLC purchased a new position in Martin Midstream Partners during the first quarter valued at approximately $418,000. Finally, Geode Capital Management LLC grew its position in Martin Midstream Partners by 97.1% during the fourth quarter. Geode Capital Management LLC now owns 44,483 shares of the pipeline company’s stock valued at $457,000 after purchasing an additional 21,909 shares in the last quarter. 27.24% of the stock is currently owned by institutional investors and hedge funds.

About Martin Midstream Partners (NASDAQ:MMLP)

Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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