Insider Buying: Global Gp Llc Buys 50,007 Shares of Global Partners Stock (GLP)
Global Partners (NYSE:GLP) Insider Global Gp Llc acquired 50,007 shares of Global Partners stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $40.61 per share, with a total value of $2,030,784.27. Following the completion of the transaction, the insider now directly owns 277,823 shares of the company’s stock, valued at approximately $11,282,392. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Global Partners (NYSE:GLP) traded up 1.21% on Tuesday, hitting $41.184. The stock had a trading volume of 12,126 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 $41.6 and its 200-day moving average is $39.75. The company has a market cap of $1.121 billion and a P/E ratio of 11.26.
Global Partners (NYSE:GLP) last released its earnings data on Thursday, August 7th. The company reported ($0.50) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.29 earnings per share. Global Partners’s revenue was down 4.2% compared to the same quarter last year. Analysts expect that Global Partners will post $2.26 EPS for the current fiscal year.
A number of analysts have recently weighed in on GLP shares. 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 currently has an average rating of “Hold” and a consensus 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.
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