Global Partners LP (NYSE:GLP) Insider Buys $456,800.00 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc acquired 10,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $45.68 per share, for a total transaction of $456,800.00. Following the acquisition, the insider now owns 192,981 shares of the company’s stock, valued at approximately $8,815,372.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, June 17th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The shares were bought at an average price of $47.37 per share, for a total transaction of $473,700.00.
• On Monday, June 10th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $50.23 per share, for a total transaction of $502,300.00.
• On Thursday, May 30th, Global Gp Llc bought 10,000 shares of Global Partners stock. The stock was purchased at an average cost of $46.69 per share, with a total value of $466,900.00.
• On Tuesday, May 28th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $44.63 per share, for a total transaction of $446,300.00.
• On Friday, May 24th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was purchased at an average cost of $44.92 per share, with a total value of $449,200.00.
• On Wednesday, May 22nd, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was acquired at an average price of $43.49 per share, with a total value of $434,900.00.
• On Monday, May 20th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average cost of $44.96 per share, for a total transaction of $449,600.00.
• On Friday, May 17th, Global Gp Llc bought 10,000 shares of Global Partners stock. The stock was acquired at an average cost of $44.05 per share, with a total value of $440,500.00.
• On Wednesday, May 15th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The shares were bought at an average cost of $43.29 per share, for a total transaction of $432,900.00.
• On Monday, May 13th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were bought at an average cost of $42.66 per share, with a total value of $426,600.00.

Global Partners Stock Up 0.6 %

Shares of Global Partners stock opened at $45.61 on Thursday. The company has a market cap of $1.54 billion, a P/E ratio of 16.95 and a beta of 1.36. The firm has a fifty day moving average of $46.27 and a two-hundred day moving average of $45.28. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.76 and a current ratio of 1.17. Global Partners LP has a one year low of $27.07 and a one year high of $50.85.

Global Partners (NYSE:GLP) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.47). Global Partners had a net margin of 0.71% and a return on equity of 18.45%. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $5.22 billion. On average, analysts forecast that Global Partners LP will post 3.11 earnings per share for the current year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date was Wednesday, May 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s dividend payout ratio is currently 105.58%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd.

Institutional Investors Weigh In On Global Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its holdings in Global Partners by 0.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock valued at $5,038,000 after buying an additional 319 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in shares of Global Partners by 3.1% in the 4th quarter. Apollon Wealth Management LLC now owns 10,829 shares of the energy company’s stock worth $458,000 after acquiring an additional 325 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Global Partners by 0.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock worth $1,786,000 after purchasing an additional 342 shares during the last quarter. Raymond James & Associates raised its holdings in Global Partners by 5.3% during the fourth quarter. Raymond James & Associates now owns 15,909 shares of the energy company’s stock worth $673,000 after purchasing an additional 807 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its position in Global Partners by 5.4% during the fourth quarter. NewEdge Wealth LLC now owns 21,572 shares of the energy company’s stock worth $913,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds 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.