Raymond James & Associates lifted its position in shares of Global Partners LP (NYSE:GLP – Free Report) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,909 shares of the energy company’s stock after buying an additional 807 shares during the quarter. Raymond James & Associates’ holdings in Global Partners were worth $673,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its holdings in Global Partners by 196.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 84,473 shares of the energy company’s stock valued at $2,984,000 after buying an additional 56,026 shares during the period. Crescent Grove Advisors LLC acquired a new stake in shares of Global Partners in the third quarter worth approximately $997,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Global Partners by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,913 shares of the energy company’s stock valued at $13,807,000 after purchasing an additional 16,503 shares during the period. Blackstone Inc. increased its position in Global Partners by 15.1% during the third quarter. Blackstone Inc. now owns 123,375 shares of the energy company’s stock worth $4,358,000 after purchasing an additional 16,200 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Global Partners during the third quarter worth approximately $494,000. Institutional investors and hedge funds own 38.12% of the company’s stock.
Global Partners Stock Performance
Shares of GLP stock opened at $46.64 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.12 and a quick ratio of 0.71. The company’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $41.05. The firm has a market capitalization of $1.58 billion, a P/E ratio of 12.40 and a beta of 1.35. Global Partners LP has a 12 month low of $27.07 and a 12 month high of $49.50.
Wall Street Analyst Weigh In
GLP has been the topic of a number of research analyst reports. StockNews.com cut Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus lifted their price objective on Global Partners from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 27th.
Check Out Our Latest Stock Report on Global Partners
Global Partners Profile
Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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