Global Partners LP (NYSE:GLP) Director Richard Slifka purchased 1,800 shares of Global Partners stock in a transaction that occurred on Tuesday, March 24th. The shares were acquired at an average price of $11.99 per share, with a total value of $21,582.00. Following the acquisition, the director now directly owns 1,800 shares of the company’s stock, valued at approximately $21,582. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of GLP stock traded up $1.03 during trading on Thursday, hitting $10.20. The company had a trading volume of 12,352 shares, compared to its average volume of 293,422. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.33. The firm has a market capitalization of $318.15 million, a P/E ratio of 12.91 and a beta of 0.85. The stock’s 50-day moving average price is $16.04 and its 200 day moving average price is $19.00. Global Partners LP has a one year low of $6.30 and a one year high of $21.62.
Global Partners (NYSE:GLP) last announced its quarterly earnings data on Friday, March 6th. The energy company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. Global Partners had a net margin of 0.27% and a return on equity of 11.62%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.16 billion. On average, research analysts anticipate that Global Partners LP will post 0.53 earnings per share for the current fiscal year.
A number of research firms recently commented on GLP. Barclays upgraded Global Partners from an “underweight” rating to an “equal weight” rating in a report on Tuesday. ValuEngine upgraded Global Partners from a “sell” rating to a “hold” rating in a report on Tuesday, March 17th. Wells Fargo & Co cut Global Partners from an “equal weight” rating to an “underweight” rating and set a $20.00 price target for the company. in a report on Tuesday, January 7th. Zacks Investment Research cut Global Partners from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut Global Partners from a “neutral” rating to an “underweight” rating and set a $21.00 price objective for the company. in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.25.
A number of institutional investors and hedge funds have recently made changes to their positions in GLP. Arrow Investment Advisors LLC increased its holdings in Global Partners by 3.7% in the fourth quarter. Arrow Investment Advisors LLC now owns 22,917 shares of the energy company’s stock valued at $462,000 after purchasing an additional 814 shares during the period. Sanders Morris Harris LLC increased its holdings in Global Partners by 2.8% in the fourth quarter. Sanders Morris Harris LLC now owns 36,950 shares of the energy company’s stock valued at $727,000 after purchasing an additional 1,000 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Global Partners by 10.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 22,034 shares of the energy company’s stock valued at $444,000 after purchasing an additional 2,132 shares during the period. California Public Employees Retirement System boosted its position in Global Partners by 22.3% during the third quarter. California Public Employees Retirement System now owns 37,078 shares of the energy company’s stock valued at $727,000 after acquiring an additional 6,767 shares during the last quarter. Finally, UBS Group AG boosted its position in Global Partners by 31.2% during the fourth quarter. UBS Group AG now owns 52,595 shares of the energy company’s stock valued at $1,060,000 after acquiring an additional 12,510 shares during the last quarter. Institutional investors and hedge funds own 37.99% of the company’s stock.
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 in the New England states and New York.
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