Short Interest in Global Partners LP (NYSE:GLP) Increases By 6.3%

Global Partners LP (NYSE:GLP) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 738,500 shares, a growth of 6.3% from the September 15th total of 694,800 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily volume of 68,100 shares, the short-interest ratio is currently 10.8 days.

Global Partners Trading Down 2.6 %

Shares of NYSE:GLP traded down $1.23 during trading on Thursday, hitting $46.77. 30,712 shares of the company’s stock were exchanged, compared to its average volume of 100,969. Global Partners has a 1-year low of $29.21 and a 1-year high of $50.85. The firm has a 50-day moving average price of $43.89 and a two-hundred day moving average price of $44.53. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 2.52. The firm has a market cap of $1.59 billion, a P/E ratio of 17.39 and a beta of 1.38.

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

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were paid a dividend of $0.72 per share. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 8th. This represents a $2.88 annualized dividend and a yield of 6.16%. Global Partners’s dividend payout ratio (DPR) is presently 107.06%.

Analyst Ratings Changes

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

Insider Activity at Global Partners

In related news, insider Global Gp Llc acquired 1,300 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $40.49 per share, for a total transaction of $52,637.00. Following the transaction, the insider now owns 194,281 shares of the company’s stock, valued at $7,866,437.69. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 43,226 shares of company stock valued at $1,872,989 in the last ninety days. Insiders own 41.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLP. Granite Bay Wealth Management LLC boosted its stake in Global Partners by 6,200.0% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company’s stock worth $14,541,000 after acquiring an additional 310,000 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Global Partners in the first quarter valued at approximately $732,000. SVB Wealth LLC bought a new position in Global Partners in the first quarter valued at approximately $374,000. Virtu Financial LLC bought a new position in Global Partners in the fourth quarter valued at approximately $206,000. Finally, Gilman Hill Asset Management LLC lifted its stake in Global Partners by 17.8% in the second quarter. Gilman Hill Asset Management LLC now owns 31,461 shares of the energy company’s stock valued at $1,436,000 after buying an additional 4,760 shares in the last quarter. 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.