Global Partners LP (NYSE:GLP) Insider Global Gp Llc Buys 5,000 Shares

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 5,000 shares of Global Partners stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $42.84 per share, with a total value of $214,200.00. Following the completion of the transaction, the insider now owns 253,981 shares of the company’s stock, valued at $10,880,546.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, September 16th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were purchased at an average cost of $43.07 per share, with a total value of $215,350.00.
• On Tuesday, September 10th, Global Gp Llc acquired 4,800 shares of Global Partners stock. The stock was acquired at an average price of $43.17 per share, with a total value of $207,216.00.
• On Thursday, September 5th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were bought at an average price of $42.40 per share, for a total transaction of $212,000.00.
• On Thursday, August 29th, Global Gp Llc purchased 7,500 shares of Global Partners stock. The stock was acquired at an average price of $45.08 per share, for a total transaction of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were 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 bought 2,400 shares of Global Partners stock. The stock was purchased at an average price of $41.88 per share, with a total value of $100,512.00.
• On Thursday, August 15th, Global Gp Llc acquired 1,300 shares of Global Partners stock. The shares were bought at an average price of $40.49 per share, with a total value of $52,637.00.
• On Thursday, June 20th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was purchased at an average cost of $45.68 per share, with a total value of $456,800.00.

Global Partners Stock Performance

Global Partners stock opened at $43.56 on Wednesday. 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 company has a market capitalization of $1.47 billion, a P/E ratio of 16.19 and a beta of 1.38. The stock’s 50 day moving average is $41.57 and its 200 day moving average is $44.54. Global Partners LP has a twelve month low of $27.07 and a twelve month high of $50.85.

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

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s payout ratio is 107.06%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the 2nd quarter worth $41,000. Albert D Mason Inc. purchased a new position in shares of Global Partners in the 1st quarter valued at about $203,000. Spinnaker Trust purchased a new position in shares of Global Partners in the 2nd quarter valued at about $203,000. Virtu Financial LLC purchased a new stake in Global Partners during the 4th quarter worth approximately $206,000. Finally, Crescent Grove Advisors LLC purchased a new stake in Global Partners during the 1st quarter worth approximately $318,000. 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.