Source: Shutterstock Aerojet Rocketdyne (NYSE: AJRD ) stock is receiving some additional attention today on news that Elliott Investment Management recently purchased substantial equity in the rocket maker. Elliott now owns a 3.7% stake in AJRD stock, adding to the fund’s rolodex of acquisition interests. Known for being one of the only independent U.S. rocket makers left, Aerojet has been in flux this year. For one, the company underwent something of a civil war this past January when former Chairman Warren Lichtenstein attempted a hostile takeover via his hedge fund, Steel Partners (NYSE: SPLP ). This takeover ended in strife, as Lichtenstein and CEO Eileen Drake exchanged heated public missives slandering each other’s integrity and competency. Per a statement from Drake in May, Lichtenstein and Steel Partners have continued to pursue a takeover of Aerojet, even as Drake levies grave reprimands. This news also ended up leading the way for yet another failed Aerojet takeover attempt from Lockheed Martin (NYSE: LMT ) in February.
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Offer from Steel Partners Substantially Undervalues the Company and Its $2 Billion in Tax Assets (NOLs)Hillandale Plans to Vote All Shares Against Proposed MergerProposes Alternative Structure to Unlock the Value of NOLs for Minority …
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NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Steel Connect, Inc. (NasdaqCM: STCN) to Steel Partners Holdings L.P. (NYSE: SPLP). Under the terms of the proposed transaction, shareholders of Steel Connect will receive only $1.35 in cash and one contingent value right (“CVR”) for each share of Steel Connect that they own. KSF is seeking to determine whether
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MILWAUKEE , June 13, 2022 /PRNewswire/ -- Ademi LLP is investigating Steel Connect (NASDAQ: STCN ) for possible breaches of fiduciary duty and other violations of law in its transaction with Steel Partners. … Full story available on Benzinga.com
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Third Quarter 2021 Results Net revenue totaled $151.8 million, as compared to $177.4 million in the prior year Net loss was $27.6 million, as compared to net loss of $6.2 million in the prior year Net loss attributable to common stockholders was $28.1 million, as compared to net loss of $6.7 million in the prior year Adjusted EBITDA * was $16.5 million, as compared to $16.7 million in the prior year Net cash provided by operating activities was $15.8 million Free Cash Flow * totaled $15.2 million Total debt, net of unamortized discounts and issuance costs, was $374.2 million; Net Debt * totaled $283.2 million Nine-Month Financial Results Net revenue totaled $477.8 million, as compared to $618.0 million in the prior year Net loss was $33.4 million, as compared to net loss of $4.9 million in the prior year Net loss attributable to common stockholders was $35.0 million, as compared to net loss of $6.5 million in the prior year Adjusted EBITDA * was $60.2 million, as compared to $62.1 million in the prior year Net cash provided by operating activities was $21.0 million Free Cash Flow * totaled $18.2 million Steel Connect, Inc. (the "Company") (NASDAQ: STCN ) today announced financial results for its third quarter ended April 30, 2021. "As we emerge from the pandemic, we remain focused on our highest-return priorities to generate long-term value for all stakeholders," said Interim Chief Executive Officer and Executive Chairman Warren Lichtenstein. "The Special Committee of the Board of Directors is still evaluating Steel Partners'' proposal to purchase all outstanding shares of Steel Connect not currently owned by Steel Partners or its affiliates.
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NEW YORK (AP) _ Steel Partners Holdings LP (SPLP) on Friday reported first-quarter net income of $53 million, after reporting a loss in the same period a year earlier. The New York-based company said it had profit of $1.60 per share. The diversified industrial company posted revenue of $314.5 million in the period. Steel Partners []
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NEW YORK--(BUSINESS WIRE)--Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced operating results for the first quarter ended March 31, 2021. Q1 2021 Q1 2020 ($ in thousands) $314,493 $347,210 Revenue 53,342 (36,479) Net income (loss) from continuing operations 52,951 (60,878) Net income (loss) attributable to common unitholders 49,776 37,717 Adjusted EBITDA* 15.8% 10.9% Adjusted EBITDA margin* 4,901 6,994 Purchases of prop
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Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced that its board of directors has declared a regular quarterly cash distribution of $0.375 per unit, payable June 15, 2021, to unitholders of record as of June 1, 2021, on its 6% Series A Preferred Units, no par value ("Series A Preferred"). Any future determination to declare distributions on its units
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Steel Partners Holdings LP shares closed today at 1.9% below its 52 week high of $14.37, giving the company a market cap of $345M. The stock is currently up 27.6% year-to-date, up 121.6% over the past 12 months, and down 5.6% over the past five years. This week, the Dow Jones Industrial Average fell 0.5%, and the S&P 500 fell 0.8%. Trading Activity Trading volume this week was 1.2% higher than the 20-day average.Beta, a measure of the stocks volatility relative to the overall market stands at 0.5. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates a downward trend.The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 48.9% The company's stock price performance over the past 12 months lags the peer average by -24.5%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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Steel Partners Holdings LP shares closed today at 1.7% below its 52 week high of $14.35, giving the company a market cap of $355M. The stock is currently up 31.3% year-to-date, up 47.9% over the past 12 months, and up 1.7% over the past five years. This week, the Dow Jones Industrial Average rose 4.1%, and the S&P 500 rose 2.7%. Trading Activity Trading volume this week was 11.4% lower than the 20-day average.Beta, a measure of the stocks volatility relative to the overall market stands at 0.5. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates an upward trend.The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis The company share price is the same as the performance of its peers in the Industrials industry sector , beats it on a 1-year basis, and lags it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date beats the peer average by 63.3% The company's stock price performance over the past 12 months lags the peer average by -50.2%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
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LAS VEGAS , May 27, 2020 /PRNewswire/ -- GA Global Partners, LLC today announced that it will conduct a live virtual public auction of the assets of Steel Partners on June 4, 2020 . The auction will feature Steel Partners' metal fabrication equipment, material handling, powder coating booth, steel inventory, trucks and trailers located in Las Vegas, NV. Steel Partners, a full-service steel contractor and major structural metals fabricator, shuttered its operations after serving the Las Vegas area … Full story available on Benzinga.com
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