Global Partners LP (NYSE:GLP) Insider Buys $207,216.00 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 4,800 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price of $43.17 per share, with a total value of $207,216.00. Following the completion of the transaction, the insider now directly owns 243,981 shares of the company’s stock, valued at $10,532,659.77. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, September 5th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was purchased at an average price of $42.40 per share, with a total value of $212,000.00.
• On Thursday, August 29th, Global Gp Llc purchased 7,500 shares of Global Partners stock. The stock was bought at an average cost of $45.08 per share, for a total transaction of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The stock was bought at an average cost of $42.67 per share, for a total transaction of $213,350.00.
• On Monday, August 19th, Global Gp Llc purchased 2,400 shares of Global Partners stock. The stock was bought at an average cost of $41.88 per share, for a total transaction of $100,512.00.
• On Thursday, August 15th, Global Gp Llc purchased 1,300 shares of Global Partners stock. The stock was bought at an average cost of $40.49 per share, for a total transaction of $52,637.00.
• On Thursday, June 20th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $45.68 per share, for a total transaction of $456,800.00.
• On Monday, June 17th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $47.37 per share, for a total transaction of $473,700.00.

Global Partners Stock Down 2.2 %

NYSE GLP opened at $43.03 on Friday. Global Partners LP has a 1-year low of $27.07 and a 1-year high of $50.85. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 2.52. The firm’s fifty day simple moving average is $41.66 and its 200-day simple moving average is $44.60.

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

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a $0.72 dividend. The ex-dividend date was Thursday, August 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.69%. Global Partners’s dividend payout ratio is 107.06%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Global Partners

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

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.