Insider Buying: Global Gp Llc Purchases 13,200 Shares of Global Partners Stock (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 cost of $39.07 per share, with a total value of $515,724.00. Following the completion of the purchase, the insider now directly owns 227,816 shares of the company’s stock, valued at approximately $8,900,771. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Global Partners (NYSE:GLP) opened at 40.61 on Monday. Global Partners has a 52 week low of $31.50 and a 52 week high of $45.00. The stock has a 50-day moving average of $41.67 and a 200-day moving average of $39.74. The company has a market cap of $1.105 billion and a price-to-earnings ratio of 11.11.
Global Partners (NYSE:GLP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts expect that Global Partners will post $2.26 EPS for the current fiscal year.
A number of research firms have recently commented on GLP. 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $41.55.
Global Partners LP is engaged in purchasing, storing, terminalling, transporting and selling refined petroleum products, renewable fuels and crude oil.
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