Global Partners LP (NYSE:GLP) Insider Global Gp Llc Purchases 10,000 Shares

Global Partners LP (NYSE:GLP) insider Global Gp Llc acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $45.68 per share, with a total value of $456,800.00. Following the completion of the acquisition, the insider now directly owns 192,981 shares in the company, valued at approximately $8,815,372.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, June 17th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $47.37 per share, with a total value of $473,700.00.
• On Monday, June 10th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $50.23 per share, for a total transaction of $502,300.00.
• On Thursday, May 30th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was purchased at an average price of $46.69 per share, with a total value of $466,900.00.
• On Tuesday, May 28th, Global Gp Llc bought 10,000 shares of Global Partners stock. The stock was acquired at an average price of $44.63 per share, for a total transaction of $446,300.00.
• On Friday, May 24th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The shares were acquired at an average price of $44.92 per share, for a total transaction of $449,200.00.
• On Wednesday, May 22nd, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was acquired at an average price of $43.49 per share, with a total value of $434,900.00.
• On Monday, May 20th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were acquired at an average price of $44.96 per share, for a total transaction of $449,600.00.
• On Friday, May 17th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were 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 stock was bought at an average price 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, for a total transaction of $426,600.00.

Global Partners Stock Performance

NYSE:GLP traded up $0.45 on Monday, reaching $45.60. 87,338 shares of the company’s stock were exchanged, compared to its average volume of 126,884. The stock has a fifty day simple moving average of $46.26 and a 200-day simple moving average of $45.16. Global Partners LP has a 52 week low of $27.07 and a 52 week high of $50.85. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 16.96 and a beta of 1.36.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.47). The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Global Partners had a net margin of 0.71% and a return on equity of 18.45%. As a group, sell-side analysts predict that Global Partners LP will post 3.11 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were issued a dividend of $0.71 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $2.84 dividend on an annualized basis and a yield of 6.23%. Global Partners’s dividend payout ratio is 105.58%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its position 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 acquiring an additional 2,784 shares during the period. Citigroup Inc. purchased a new stake in Global Partners in the 3rd quarter worth approximately $494,000. Acadian Asset Management LLC bought a new position in Global Partners in the 3rd quarter valued at $138,000. Nomura Holdings Inc. purchased a new position in shares of Global Partners during the 3rd quarter valued at $494,000. Finally, Blackstone Inc. increased its holdings in shares of Global Partners by 15.1% in the third quarter. Blackstone Inc. now owns 123,375 shares of the energy company’s stock worth $4,358,000 after purchasing an additional 16,200 shares during the period. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research report 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.