Insider Buying: Global Partners Insider Acquires 50,007 Shares of Stock (GLP)
Global Partners (NYSE:GLP) Insider Global Gp Llc acquired 50,007 shares of Global Partners stock on the open market in a transaction that occurred on Friday, August 15th. The shares were purchased at an average price of $40.61 per share, for a total transaction of $2,030,784.27. Following the completion of the purchase, the insider now directly owns 277,823 shares in the company, valued at approximately $11,282,392. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Global Partners (NYSE:GLP) opened at 41.64 on Thursday. Global Partners has a 1-year low of $31.50 and a 1-year high of $45.00. The stock has a 50-day moving average of $41.72 and a 200-day moving average of $39.77. The company has a market cap of $1.133 billion and a P/E ratio of 11.48.
Global Partners (NYSE:GLP) last released its 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. On average, analysts predict that Global Partners will post $2.24 earnings per share for the current fiscal year.
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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Global Partners 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.
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.