Global Partners (NYSE:GLP) Trading 2.8% Higher Following Insider Buying Activity

Global Partners LP (NYSE:GLP) traded up 2.8% during mid-day trading on Thursday following insider buying activity. The stock traded as high as $45.21 and last traded at $44.80. 12,662 shares were traded during trading, a decline of 90% from the average session volume of 130,653 shares. The stock had previously closed at $43.57.

Specifically, insider Global Gp Llc bought 10,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $44.96 per share, for a total transaction of $449,600.00. Following the completion of the transaction, the insider now directly owns 77,981 shares in the company, valued at approximately $3,506,025.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired a total of 50,000 shares of company stock worth $2,184,500 over the last 90 days. Insiders own 41.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Global Partners Stock Performance

The stock has a market cap of $1.53 billion, a P/E ratio of 16.22 and a beta of 1.33. The company has a fifty day moving average price of $45.75 and a 200 day moving average price of $43.12. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76.

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

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th were given a $0.71 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $2.84 annualized dividend and a yield of 6.29%. This is a boost from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s payout ratio is currently 105.58%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Manchester Capital Management LLC purchased a new position in shares of Global Partners during the 3rd quarter valued at $35,000. Signaturefd LLC bought a new position in Global Partners in the 4th quarter worth about $85,000. Tower Research Capital LLC TRC boosted its stake in Global Partners by 592.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,090 shares of the energy company’s stock worth $88,000 after purchasing an additional 1,788 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Global Partners during the 3rd quarter valued at about $138,000. Finally, Albert D Mason Inc. bought a new stake in shares of Global Partners during the 1st quarter valued at about $203,000. Hedge funds and other institutional investors own 38.12% of the company’s stock.

About Global Partners

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.