Global Partners LP (NYSE:GLP) Director Richard Slifka Acquires 1,800 Shares

Global Partners LP (NYSE:GLP) Director Richard Slifka bought 1,800 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were bought at an average cost of $11.99 per share, for a total transaction of $21,582.00. Following the completion of the transaction, the director now directly owns 1,800 shares of the company’s stock, valued at $21,582. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NYSE:GLP traded up $1.03 during trading hours on Thursday, hitting $10.20. 12,352 shares of the company’s stock traded hands, compared to its average volume of 293,422. The firm has a market cap of $318.15 million, a P/E ratio of 12.91 and a beta of 0.85. Global Partners LP has a twelve month low of $6.30 and a twelve month high of $21.62. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.73 and a current ratio of 1.33. The stock’s fifty day moving average price is $16.04 and its two-hundred day moving average price is $19.00.

Global Partners (NYSE:GLP) last issued its earnings results on Friday, March 6th. The energy company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. Global Partners had a return on equity of 11.62% and a net margin of 0.27%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.16 billion. On average, equities research analysts predict that Global Partners LP will post 0.53 earnings per share for the current year.

Several research firms recently weighed in on GLP. Barclays raised Global Partners from an “underweight” rating to an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered Global Partners from a “neutral” rating to an “underweight” rating and set a $21.00 price target on the stock. in a research report on Wednesday, January 29th. ValuEngine raised Global Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Zacks Investment Research lowered Global Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Co lowered Global Partners from an “equal weight” rating to an “underweight” rating and set a $20.00 price target on the stock. in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Global Partners currently has a consensus rating of “Hold” and an average price target of $20.25.

A number of hedge funds have recently modified their holdings of GLP. Marshall Wace LLP acquired a new position in Global Partners in the 4th quarter worth about $1,797,000. Russell Investments Group Ltd. bought a new stake in shares of Global Partners during the 4th quarter worth about $1,554,000. Goldman Sachs Group Inc. boosted its stake in shares of Global Partners by 122.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 54,339 shares of the energy company’s stock worth $1,095,000 after acquiring an additional 29,957 shares in the last quarter. Citigroup Inc. bought a new stake in shares of Global Partners during the 4th quarter worth about $564,000. Finally, Stifel Financial Corp bought a new stake in shares of Global Partners during the 4th quarter worth about $476,000. 37.99% of the stock is currently owned by institutional investors.

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 in the New England states and New York.

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