Insider Buying: Global Partners LP (NYSE:GLP) Insider Purchases 6,545 Shares of Stock

Global Partners LP (NYSE:GLPGet Rating) insider Global Gp Llc purchased 6,545 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were purchased at an average cost of $20.46 per share, for a total transaction of $133,910.70. Following the purchase, the insider now directly owns 118,801 shares of the company’s stock, valued at $2,430,668.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

  • On Wednesday, June 15th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $24.09 per share, for a total transaction of $240,900.00.
  • On Tuesday, May 24th, Global Gp Llc purchased 6,940 shares of Global Partners stock. The shares were purchased at an average cost of $28.08 per share, for a total transaction of $194,875.20.

NYSE:GLP traded up $0.29 during mid-day trading on Friday, hitting $20.77. The company had a trading volume of 633,428 shares, compared to its average volume of 109,274. Global Partners LP has a fifty-two week low of $19.45 and a fifty-two week high of $30.26. The business’s fifty day moving average is $27.21 and its two-hundred day moving average is $26.09. The company has a debt-to-equity ratio of 3.49, a quick ratio of 0.76 and a current ratio of 1.32. The firm has a market cap of $706.18 million, a P/E ratio of 9.07 and a beta of 1.18.

Global Partners (NYSE:GLPGet Rating) last announced its quarterly earnings results on Friday, May 6th. The energy company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.87. Global Partners had a return on equity of 24.40% and a net margin of 0.63%. The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $3.69 billion. Equities analysts forecast that Global Partners LP will post 3.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Monday, May 9th were issued a $0.595 dividend. This is an increase from Global Partners’s previous quarterly dividend of $0.59. This represents a $2.38 annualized dividend and a dividend yield of 11.46%. The ex-dividend date was Friday, May 6th. Global Partners’s dividend payout ratio is 103.93%.

Several research firms have weighed in on GLP. Stifel Nicolaus increased their target price on Global Partners from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, March 1st. StockNews.com raised Global Partners from a “hold” rating to a “buy” rating in a research note on Monday, May 9th. Finally, TheStreet raised Global Partners from a “c+” rating to a “b” rating in a research note on Monday, May 23rd.

Institutional investors have recently made changes to their positions in the business. Huntington National Bank bought a new stake in shares of Global Partners in the fourth quarter worth about $35,000. Herold Advisors Inc. bought a new position in shares of Global Partners during the first quarter worth about $44,000. Barclays PLC bought a new position in shares of Global Partners during the fourth quarter worth about $108,000. Operose Advisors LLC bought a new position in shares of Global Partners during the first quarter worth about $109,000. Finally, CWM LLC bought a new position in shares of Global Partners during the fourth quarter worth about $114,000.

Global Partners Company Profile (Get Rating)

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 in the New England states, Mid-Atlantic region, and New York.

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