Global Partners Insider Global Gp Llc Purchases 5,600 Shares (GLP)
Global Partners (NYSE:GLP) Insider Global Gp Llc acquired 5,600 shares of Global Partners stock on the open market in a transaction dated Tuesday, June 3rd. The stock was purchased at an average cost of $40.68 per share, for a total transaction of $227,808.00. Following the transaction, the insider now directly owns 204,816 shares in the company, valued at approximately $8,331,915. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on GLP shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Global Partners in a research note on Monday. They now have a $41.00 price target on the stock, up previously from $35.00. Separately, 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. Finally, 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. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.80.
Shares of Global Partners (NYSE:GLP) traded up 0.40% during mid-day trading on Tuesday, hitting $40.65. 30,715 shares of the company’s stock traded hands. Global Partners has a 52-week low of $30.01 and a 52-week high of $42.50. The stock has a 50-day moving average of $40.35 and a 200-day moving average of $37.69. The company has a market cap of $1.108 billion and a P/E ratio of 9.52.
Global Partners (NYSE:GLP) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.20 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.51 earnings per share. Global Partners’s revenue was down 8.5% compared to the same quarter last year. Analysts expect that Global Partners will post $2.51 EPS for the current fiscal year.
Global Partners LP is engaged in purchasing, storing, terminalling, transporting and selling refined petroleum products, renewable fuels and crude oil.
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