Global Partners LP (NYSE:GLP) COO Mark Romaine Sells 2,195 Shares

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,195 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the sale, the chief operating officer now directly owns 156,198 shares of the company’s stock, valued at approximately $8,444,063.88. This represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mark Romaine also recently made the following trade(s):

• On Monday, March 24th, Mark Romaine sold 11 shares of Global Partners stock. The shares were sold at an average price of $54.00, for a total transaction of $594.00.

Global Partners Trading Up 2.0 %

GLP traded up $1.07 on Tuesday, hitting $53.75. The company had a trading volume of 46,190 shares, compared to its average volume of 75,654. The company’s fifty day moving average price is $55.17 and its 200 day moving average price is $50.73. Global Partners LP has a 1 year low of $37.00 and a 1 year high of $60.00. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The firm has a market cap of $1.83 billion, a P/E ratio of 16.24 and a beta of 1.53.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were issued a $0.74 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend was Monday, February 10th. Global Partners’s dividend payout ratio is currently 122.31%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered Global Partners from a “buy” rating to a “hold” rating and increased their price objective for the stock from $54.00 to $56.00 in a research report on Tuesday, March 4th.

Institutional Trading of Global Partners

Several institutional investors have recently added to or reduced their stakes in GLP. US Bancorp DE boosted its position in shares of Global Partners by 54.1% during the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock worth $66,000 after buying an additional 500 shares during the period. Albert D Mason Inc. boosted its holdings in Global Partners by 11.8% during the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after acquiring an additional 575 shares during the period. Virtu Financial LLC acquired a new position in Global Partners in the 4th quarter valued at about $288,000. XTX Topco Ltd purchased a new position in Global Partners in the 4th quarter valued at approximately $302,000. Finally, SVB Wealth LLC acquired a new position in shares of Global Partners in the fourth quarter worth $330,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Company Profile

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.