Global X Management Co. LLC Acquires 111,551 Shares of Dorian LPG Ltd. (LPG)
Global X Management Co. LLC raised its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 22.5% during the second quarter, Holdings Channel reports. The fund owned 608,078 shares of the shipping company’s stock after buying an additional 111,551 shares during the period. Global X Management Co. LLC’s holdings in Dorian LPG were worth $4,974,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Gargoyle Investment Advisor L.L.C. acquired a new position in shares of Dorian LPG during the first quarter valued at $150,000. American International Group Inc. boosted its position in shares of Dorian LPG by 7.1% in the first quarter. American International Group Inc. now owns 14,921 shares of the shipping company’s stock valued at $157,000 after buying an additional 987 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in shares of Dorian LPG during the second quarter valued at $165,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Dorian LPG during the first quarter valued at $173,000. Finally, Citadel Advisors LLC boosted its position in shares of Dorian LPG by 32.8% in the first quarter. Citadel Advisors LLC now owns 17,041 shares of the shipping company’s stock valued at $179,000 after buying an additional 4,208 shares during the last quarter. 47.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dorian LPG Ltd. (LPG) opened at 6.70 on Friday. The stock’s market cap is $362.31 million. The firm has a 50-day moving average of $7.76 and a 200 day moving average of $9.05. Dorian LPG Ltd. has a 1-year low of $5.07 and a 1-year high of $12.50.
Dorian LPG (NYSE:LPG) last issued its earnings results on Monday, July 31st. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $41 million for the quarter, compared to the consensus estimate of $37.65 million. Dorian LPG had a negative net margin of 4.33% and a negative return on equity of 4.16%. The business’s revenue was down 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities research analysts forecast that Dorian LPG Ltd. will post ($0.44) earnings per share for the current year.
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Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. UBS AG set a $8.00 price target on shares of Dorian LPG and gave the company a “buy” rating in a research report on Saturday, June 17th. BidaskClub cut shares of Dorian LPG from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Pareto Securities raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, June 12th. Finally, ValuEngine raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $10.00.
In other news, insider John C. Hadjipateras sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $7.55, for a total value of $1,887,500.00. Following the transaction, the insider now owns 2,037,020 shares in the company, valued at $15,379,501. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 26.50% of the company’s stock.
About Dorian LPG
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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