Global Partners LP (NYSE:GLP) Insider Purchases $449,600.00 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average cost of $44.96 per share, with a total value of $449,600.00. Following the purchase, the insider now directly owns 77,981 shares of the company’s stock, valued at $3,506,025.76. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

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

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

Global Partners Trading Down 1.6 %

NYSE GLP opened at $43.62 on Thursday. 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 52 week low of $27.07 and a 52 week high of $49.50. The business has a 50 day moving average price of $45.75 and a 200-day moving average price of $43.12. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 16.22 and a beta of 1.33.

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

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were given a $0.71 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, May 8th. This represents a $2.84 annualized dividend and a yield of 6.51%. Global Partners’s dividend payout ratio (DPR) is presently 105.58%.

Hedge Funds Weigh In On Global Partners

A number of hedge funds have recently added to or reduced their stakes in GLP. American Financial Group Inc. bought a new position in shares of Global Partners in the third quarter valued at approximately $459,000. Spinnaker Trust purchased a new position in Global Partners during the 3rd quarter worth $220,000. D.A. Davidson & CO. grew its stake 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 in the last quarter. HighTower Advisors LLC raised its holdings in shares of Global Partners by 22.6% in the third 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 during the last quarter. Finally, Citigroup Inc. purchased a new stake in shares of Global Partners in the third quarter valued at about $494,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Global Partners Company Profile

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.