Martin Midstream Partners (MMLP) Trading Down 7.3%

Martin Midstream Partners L.P. (NASDAQ:MMLP)’s share price dropped 7.3% during mid-day trading on Wednesday . The company traded as low as $9.57 and last traded at $9.57. Approximately 638,428 shares were traded during mid-day trading, an increase of 197% from the average daily volume of 215,245 shares. The stock had previously closed at $10.32.

MMLP has been the subject of a number of recent analyst reports. ValuEngine lowered shares of Martin Midstream Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. BidaskClub upgraded shares of Martin Midstream Partners from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research lowered shares of Martin Midstream Partners from a “hold” rating to a “sell” rating in a research report on Saturday, February 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.50.

The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.07 and a current ratio of 1.91. The firm has a market cap of $399.08 million, a price-to-earnings ratio of -53.79 and a beta of 1.28.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bollard Group LLC lifted its holdings in Martin Midstream Partners by 5.0% in the 4th quarter. Bollard Group LLC now owns 44,000 shares of the pipeline company’s stock valued at $452,000 after acquiring an additional 2,100 shares during the last quarter. Endurance Wealth Management Inc. lifted its holdings in Martin Midstream Partners by 19.6% in the 4th quarter. Endurance Wealth Management Inc. now owns 17,100 shares of the pipeline company’s stock valued at $175,000 after acquiring an additional 2,800 shares during the last quarter. Trust Asset Management LLC lifted its holdings in Martin Midstream Partners by 6.2% in the 3rd quarter. Trust Asset Management LLC now owns 64,590 shares of the pipeline company’s stock valued at $749,000 after acquiring an additional 3,799 shares during the last quarter. Gradient Investments LLC acquired a new stake in Martin Midstream Partners in the 4th quarter valued at about $51,000. Finally, Barclays PLC lifted its holdings in Martin Midstream Partners by 124.5% in the 4th quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock valued at $156,000 after acquiring an additional 8,408 shares during the last quarter. 25.74% of the stock is owned by institutional investors.

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Martin Midstream Partners Company Profile (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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