Global Partners LP (NYSE:GLP) Insider Global Gp Llc Acquires 10,000 Shares

Global Partners LP (NYSE:GLPGet Free Report) insider Global Gp Llc bought 10,000 shares of Global Partners stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $44.63 per share, with a total value of $446,300.00. Following the acquisition, the insider now directly owns 127,981 shares in the company, valued at $5,711,792.03. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Global Gp Llc also recently made the following trade(s):

  • On Friday, May 24th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was purchased at an average price of $44.92 per share, with a total value of $449,200.00.
  • On Wednesday, May 22nd, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $43.49 per share, for a total transaction of $434,900.00.
  • On Monday, May 20th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was purchased at an average cost of $44.96 per share, with a total value of $449,600.00.
  • On Friday, May 17th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was purchased at an average cost of $44.05 per share, for a total transaction of $440,500.00.
  • On Wednesday, May 15th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average cost of $43.29 per share, with a total value of $432,900.00.
  • On Monday, May 13th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were acquired at an average price of $42.66 per share, with a total value of $426,600.00.

Global Partners Price Performance

GLP stock opened at $46.09 on Wednesday. The firm has a 50 day simple moving average of $45.64 and a two-hundred day simple moving average of $43.55. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76. The stock has a market cap of $1.56 billion, a PE ratio of 17.13 and a beta of 1.33. Global Partners LP has a one year low of $27.07 and a one year high of $49.50.

Global Partners (NYSE:GLPGet Free Report) last announced its earnings results on Wednesday, May 8th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.47). Global Partners had a return on equity of 18.45% and a net margin of 0.71%. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $5.22 billion. On average, analysts predict that Global Partners LP will post 3.11 EPS for the current fiscal year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.16%. This is a boost from Global Partners’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, May 8th. Global Partners’s dividend payout ratio (DPR) is currently 105.58%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd.

Check Out Our Latest Research Report on Global Partners

Institutional Trading of Global Partners

A number of hedge funds have recently bought and sold shares of GLP. Spinnaker Trust bought a new position in Global Partners during the third quarter valued at approximately $220,000. D.A. Davidson & CO. lifted its holdings in shares of Global Partners by 42.8% in the 3rd quarter. D.A. Davidson & CO. now owns 18,350 shares of the energy company’s stock worth $648,000 after acquiring an additional 5,500 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Global Partners by 22.6% in the 3rd quarter. HighTower Advisors LLC now owns 15,103 shares of the energy company’s stock valued at $534,000 after purchasing an additional 2,784 shares in the last quarter. Citigroup Inc. bought a new position in shares of Global Partners during the 3rd quarter valued at $494,000. Finally, Manchester Capital Management LLC purchased a new position in Global Partners in the 3rd quarter worth $35,000. Institutional investors own 38.12% of the company’s stock.

About Global Partners

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Global Partners (NYSE:GLP)

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