Global Partners Insider Purchases $183,105 in Stock (GLP)
Global Partners (NYSE:GLP) Insider Global Gp Llc bought 4,500 shares of the company’s stock on the open market in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $40.69 per share, for a total transaction of $183,105.00. Following the purchase, the insider now directly owns 183,916 shares in the company, valued at approximately $7,483,542. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Global Partners (NYSE:GLP) traded down 1.25% during mid-day trading on Tuesday, hitting $40.28. 30,477 shares of the company’s stock traded hands. Global Partners has a 1-year low of $30.01 and a 1-year high of $42.50. The stock’s 50-day moving average is $39.92 and its 200-day moving average is $37.44. The company has a market cap of $1.098 billion and a price-to-earnings ratio of 9.59.
Global Partners (NYSE:GLP) last released its earnings data on Thursday, May 8th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.72. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, analysts predict that Global Partners will post $2.54 earnings per share for the current fiscal year.
A number of research firms have recently commented on GLP. Analysts at Zacks upgraded shares of Global Partners from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 22nd. They now have a $43.20 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Global Partners from $37.00 to $40.00 in a research note on Monday, May 12th. They now have an “equal weight” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Global Partners from $38.00 to $43.00 in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $42.07.
Global Partners LP is engaged in purchasing, storing, terminalling, transporting and selling refined petroleum products, renewable fuels and crude oil.