Global Partners Insider Global Gp Llc Acquires 13,200 Shares (GLP)
Global Partners (NYSE:GLP) Insider Global Gp Llc bought 13,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $39.07 per share, for a total transaction of $515,724.00. Following the completion of the acquisition, the insider now directly owns 227,816 shares in the company, valued at approximately $8,900,771. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Global Partners (NYSE:GLP) traded up 1.16% on Thursday, hitting $40.15. The stock had a trading volume of 22,803 shares. Global Partners has a 52-week low of $31.50 and a 52-week high of $45.00. The stock’s 50-day moving average is $41.63 and its 200-day moving average is $39.73. The company has a market cap of $1.093 billion and a price-to-earnings ratio of 10.98.
Global Partners (NYSE:GLP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.50) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.37. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts predict that Global Partners will post $2.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Tuesday, August 5th will be given a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, August 1st. This is a positive change from Global Partners’s previous quarterly dividend of $0.63.
GLP has been the subject of a number of recent research reports. Analysts at RBC Capital cut their price target on shares of Global Partners from $43.00 to $40.00 in a research note on Friday, August 8th. Separately, analysts at Zacks downgraded shares of Global Partners from an “outperform” rating to a “neutral” rating in a research note on Monday, July 21st. They now have a $45.20 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Global Partners in a research note on Monday, June 2nd. They now have a $41.00 price target on the stock, up previously from $35.00. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $41.55.
Global Partners LP is engaged in purchasing, storing, terminalling, transporting and selling refined petroleum products, renewable fuels and crude oil.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.