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 Wednesday, May 15th. The stock was purchased at an average price of $43.29 per share, for a total transaction of $432,900.00. Following the completion of the acquisition, the insider now owns 47,981 shares in the company, valued at approximately $2,077,097.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, May 13th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $42.66 per share, for a total transaction of $426,600.00.

Global Partners Trading Up 3.8 %

Shares of GLP stock traded up $1.58 during trading hours on Wednesday, hitting $43.50. 133,133 shares of the company were exchanged, compared to its average volume of 133,158. The firm has a fifty day moving average of $46.12 and a 200 day moving average of $42.69. The company has a quick ratio of 0.76, a current ratio of 1.17 and a debt-to-equity ratio of 2.23. Global Partners LP has a 1 year low of $27.07 and a 1 year high of $49.50. The firm has a market cap of $1.47 billion, a PE ratio of 15.56 and a beta of 1.33.

Global Partners (NYSE:GLPGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. Global Partners had a net margin of 0.71% and a return on equity of 18.45%. Analysts expect that Global Partners LP will post 3.11 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, May 9th will be paid a $0.71 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Wednesday, May 8th. Global Partners’s payout ratio is currently 105.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLP. Raymond James Financial Services Advisors Inc. lifted its holdings in Global Partners by 196.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 84,473 shares of the energy company’s stock worth $2,984,000 after purchasing an additional 56,026 shares during the period. American Financial Group Inc. acquired a new stake in Global Partners during the 3rd quarter worth about $459,000. Spinnaker Trust purchased a new position in shares of Global Partners in the third quarter worth approximately $220,000. D.A. Davidson & CO. raised its holdings in shares of Global Partners by 42.8% during the third quarter. D.A. Davidson & CO. now owns 18,350 shares of the energy company’s stock valued at $648,000 after acquiring an additional 5,500 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Global Partners by 22.6% in the 3rd quarter. HighTower Advisors LLC now owns 15,103 shares of the energy company’s stock worth $534,000 after purchasing an additional 2,784 shares during the period. 38.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Get Our Latest Report on GLP

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.

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

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