Global Partners LP (NYSE:GLP) Insider Purchases $99,524.46 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 2,226 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average price of $44.71 per share, for a total transaction of $99,524.46. Following the completion of the acquisition, the insider now owns 268,307 shares in the company, valued at approximately $11,996,005.97. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, September 18th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The stock was purchased at an average cost of $44.02 per share, with a total value of $220,100.00.
• On Monday, September 16th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was purchased at an average price of $43.07 per share, with a total value of $215,350.00.
• On Friday, September 13th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The stock was purchased at an average price of $42.84 per share, for a total transaction of $214,200.00.
• On Tuesday, September 10th, Global Gp Llc bought 4,800 shares of Global Partners stock. The shares were 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 bought 5,000 shares of Global Partners stock. The shares were acquired at an average cost of $42.40 per share, for a total transaction of $212,000.00.
• On Thursday, August 29th, Global Gp Llc acquired 7,500 shares of Global Partners stock. The shares were acquired at an average price of $45.08 per share, with a total value of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was acquired at an average cost of $42.67 per share, for a total transaction of $213,350.00.
• On Monday, August 19th, Global Gp Llc purchased 2,400 shares of Global Partners stock. The shares were bought at an average cost 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, for a total transaction of $52,637.00.

Global Partners Price Performance

Shares of NYSE GLP opened at $44.19 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 2.52. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.52 and a beta of 1.38. Global Partners LP has a twelve month low of $27.07 and a twelve month high of $50.85. The business has a 50 day simple moving average of $41.93 and a 200-day simple moving average of $44.45.

Global Partners (NYSE:GLP) last released its earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.40). Global Partners had a net margin of 0.71% and a return on equity of 19.21%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $5.51 billion. As a group, equities research analysts expect that Global Partners LP will post 3.19 earnings per share for the current 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 issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.88 dividend on an annualized basis and a yield of 6.52%. This is a boost from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio (DPR) is currently 107.06%.

Hedge Funds Weigh In On Global Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of GLP. International Assets Investment Management LLC acquired a new stake in shares of Global Partners during the 2nd quarter worth approximately $41,000. Spinnaker Trust bought a new position in Global Partners during the 2nd quarter worth $203,000. Virtu Financial LLC acquired a new stake in Global Partners in the fourth quarter worth $206,000. Albert D Mason Inc. increased its position in Global Partners by 6.6% in the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock worth $222,000 after buying an additional 300 shares during the period. Finally, Crescent Grove Advisors LLC bought a new stake in Global Partners in the first quarter valued at $318,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.