StealthGas (NASDAQ:GASS) Announces Quarterly Earnings Results

StealthGas (NASDAQ:GASS) posted its quarterly earnings data on Thursday. The shipping company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02, Morningstar.com reports. The business had revenue of $29.94 million for the quarter, compared to analysts’ expectations of $33.79 million. StealthGas had a positive return on equity of 0.11% and a negative net margin of 2.81%.

StealthGas stock opened at $3.19 on Friday. The stock’s 50 day simple moving average is $3.63 and its two-hundred day simple moving average is $3.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.02 and a current ratio of 1.06. The stock has a market cap of $140.44 million, a price-to-earnings ratio of 116.67 and a beta of 1.39. StealthGas has a fifty-two week low of $2.73 and a fifty-two week high of $4.18.

In related news, major shareholder Glendon Capital Management Lp purchased 50,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were purchased at an average cost of $3.36 per share, with a total value of $168,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Opportunities Fund L. Glendon purchased 95,627 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was bought at an average cost of $3.42 per share, for a total transaction of $327,044.34. The disclosure for this purchase can be found here.



Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of StealthGas by 18.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,985,339 shares of the shipping company’s stock worth $10,267,000 after purchasing an additional 460,335 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of StealthGas by 5.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,087,726 shares of the shipping company’s stock worth $7,182,000 after purchasing an additional 109,933 shares in the last quarter. Towerview LLC boosted its position in shares of StealthGas by 7.9% in the 2nd quarter. Towerview LLC now owns 580,000 shares of the shipping company’s stock worth $1,995,000 after purchasing an additional 42,525 shares in the last quarter. BlackRock Inc. bought a new stake in shares of StealthGas in the 4th quarter worth approximately $592,000. Finally, Geode Capital Management LLC boosted its position in shares of StealthGas by 71.5% in the 4th quarter. Geode Capital Management LLC now owns 29,544 shares of the shipping company’s stock worth $81,000 after purchasing an additional 12,321 shares in the last quarter. 59.04% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on GASS shares. ValuEngine raised StealthGas from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut StealthGas from a “hold” rating to a “sell” rating in a research report on Friday.

StealthGas Company Profile

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

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Earnings History for StealthGas (NASDAQ:GASS)

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