Global Partners LP (NYSE:GLP)’s share price fell 4% during mid-day trading on Thursday . The company traded as low as $13.03 and last traded at $13.05, with a volume of 96,133 shares. The stock had previously closed at $13.59.

A number of research firms have recently issued reports on GLP. Zacks Investment Research downgraded Global Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Barclays PLC restated a “hold” rating on shares of Global Partners in a research note on Saturday, May 14th. JPMorgan Chase & Co. dropped their price target on Global Partners from $37.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 19th. Finally, TheStreet downgraded Global Partners from a “hold” rating to a “sell” rating in a research note on Friday, March 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.00.

The firm’s 50-day moving average is $13.42 and its 200-day moving average is $14.21. The company has a market cap of $448.12 million and a P/E ratio of 742.78.

Global Partners (NYSE:GLP) last posted its earnings results on Monday, May 9th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.08. During the same period in the prior year, the company posted $0.92 EPS. The business earned $1.75 billion during the quarter, compared to the consensus estimate of $2.30 billion. The firm’s revenue for the quarter was down 41.2% compared to the same quarter last year. Analysts anticipate that Global Partners LP will post ($0.53) EPS for the current fiscal year.

Other hedge funds recently bought and sold shares of the company. Morgan Stanley raised its stake in Global Partners by 44.8% in the fourth quarter. Morgan Stanley now owns 806,868 shares of the company’s stock worth $14,177,000 after buying an additional 249,586 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Global Partners during the fourth quarter worth about $3,464,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Global Partners during the fourth quarter worth about $1,025,000. Finally, GSA Capital Partners LLP increased its position in shares of Global Partners by 92.0% in the fourth quarter. GSA Capital Partners LLP now owns 96,600 shares of the company’s stock worth $1,697,000 after buying an additional 46,300 shares during the last quarter.

Global Partners LP is a midstream logistics and marketing company. The Company is engaged in the purchasing, selling and logistics of transporting petroleum and related products, including domestic and Canadian crude oil, gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, natural gas and propane.

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