Global Partners LP (NYSE:GLP) Insider Global Gp Llc Acquires 5,000 Shares of Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc acquired 5,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were purchased at an average price of $44.02 per share, for a total transaction of $220,100.00. Following the transaction, the insider now directly owns 266,081 shares in the company, valued at $11,712,885.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, September 16th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were bought at an average cost of $43.07 per share, for a total transaction of $215,350.00.
• On Friday, September 13th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were bought at an average cost of $42.84 per share, for a total transaction of $214,200.00.
• On Tuesday, September 10th, Global Gp Llc bought 4,800 shares of Global Partners stock. The shares were bought at an average cost of $43.17 per share, for a total transaction of $207,216.00.
• On Thursday, September 5th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The stock was acquired at an average cost of $42.40 per share, for a total transaction of $212,000.00.
• On Thursday, August 29th, Global Gp Llc acquired 7,500 shares of Global Partners stock. The stock was acquired at an average cost of $45.08 per share, for a total transaction of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The stock was acquired at an average cost of $42.67 per share, for a total transaction of $213,350.00.
• On Monday, August 19th, Global Gp Llc acquired 2,400 shares of Global Partners stock. The stock was acquired at an average cost of $41.88 per share, for a total transaction of $100,512.00.
• On Thursday, August 15th, Global Gp Llc acquired 1,300 shares of Global Partners stock. The stock was acquired at an average cost of $40.49 per share, for a total transaction of $52,637.00.

Global Partners Stock Performance

Shares of GLP stock opened at $43.83 on Friday. The business’s 50-day moving average price is $41.56 and its 200-day moving average price is $44.53. Global Partners LP has a 12 month low of $27.07 and a 12 month high of $50.85. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 16.29 and a beta of 1.38. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 2.52.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). Global Partners had a net margin of 0.71% and a return on equity of 19.21%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $5.51 billion. Equities research analysts forecast that Global Partners LP will post 3.19 EPS for the current year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.57%. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 8th. Global Partners’s dividend payout ratio (DPR) is presently 107.06%.

Institutional Trading of Global Partners

A number of hedge funds have recently made changes to their positions in GLP. International Assets Investment Management LLC acquired a new stake in shares of Global Partners during the second quarter valued at about $41,000. Albert D Mason Inc. acquired a new stake in shares of Global Partners during the first quarter valued at about $203,000. Spinnaker Trust acquired a new stake in shares of Global Partners during the second quarter valued at about $203,000. Virtu Financial LLC bought a new position in shares of Global Partners during the fourth quarter worth about $206,000. Finally, Crescent Grove Advisors LLC bought a new position in shares of Global Partners during the first quarter worth about $318,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their price objective on Global Partners from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

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.