Glendon Capital Management Lp Acquires 5,000 Shares of StealthGas Inc. (GASS) Stock

StealthGas Inc. (NASDAQ:GASS) major shareholder Glendon Capital Management Lp bought 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $3.05 per share, for a total transaction of $15,250.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Glendon Capital Management Lp also recently made the following trade(s):

  • On Wednesday, March 13th, Glendon Capital Management Lp bought 18,000 shares of StealthGas stock. The shares were acquired at an average cost of $3.09 per share, for a total transaction of $55,620.00.
  • On Monday, March 11th, Glendon Capital Management Lp bought 2,000 shares of StealthGas stock. The shares were acquired at an average cost of $3.09 per share, for a total transaction of $6,180.00.
  • On Thursday, March 7th, Glendon Capital Management Lp bought 3,600 shares of StealthGas stock. The shares were acquired at an average cost of $3.11 per share, for a total transaction of $11,196.00.
  • On Tuesday, March 5th, Glendon Capital Management Lp bought 29,998 shares of StealthGas stock. The shares were acquired at an average cost of $3.25 per share, for a total transaction of $97,493.50.
  • On Thursday, February 28th, Glendon Capital Management Lp bought 50,000 shares of StealthGas stock. The shares were acquired at an average cost of $3.29 per share, for a total transaction of $164,500.00.
  • On Monday, February 25th, Glendon Capital Management Lp bought 2,473 shares of StealthGas stock. The shares were acquired at an average cost of $3.35 per share, for a total transaction of $8,284.55.
  • On Friday, February 22nd, Glendon Capital Management Lp bought 17,610 shares of StealthGas stock. The shares were acquired at an average cost of $3.30 per share, for a total transaction of $58,113.00.
  • On Wednesday, February 20th, Glendon Capital Management Lp bought 60,500 shares of StealthGas stock. The shares were acquired at an average cost of $3.37 per share, for a total transaction of $203,885.00.
  • On Monday, December 31st, Glendon Capital Management Lp bought 900 shares of StealthGas stock. The shares were acquired at an average cost of $2.74 per share, for a total transaction of $2,466.00.
  • On Monday, December 31st, Glendon Capital Management Lp bought 900 shares of StealthGas stock. The shares were acquired at an average cost of $2.74 per share, for a total transaction of $2,466.00.

NASDAQ:GASS traded up $0.01 during mid-day trading on Friday, reaching $3.06. 15,900 shares of the stock were exchanged, compared to its average volume of 57,969. The company has a market capitalization of $121.58 million, a PE ratio of 313.00 and a beta of 1.53. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 0.72. StealthGas Inc. has a 1 year low of $2.73 and a 1 year high of $4.31.

StealthGas (NASDAQ:GASS) last released its quarterly earnings results on Thursday, February 21st. The shipping company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The firm had revenue of $34.02 million for the quarter, compared to analysts’ expectations of $35.61 million. StealthGas had a positive return on equity of 0.03% and a negative net margin of 7.47%. As a group, sell-side analysts anticipate that StealthGas Inc. will post 0.17 EPS for the current fiscal year.

Several brokerages have recently weighed in on GASS. Maxim Group restated a “buy” rating and set a $6.00 price target on shares of StealthGas in a research note on Friday, November 23rd. ValuEngine downgraded StealthGas from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Zacks Investment Research upgraded StealthGas from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Friday, February 1st.

A number of large investors have recently added to or reduced their stakes in GASS. Russell Investments Group Ltd. grew its stake in StealthGas by 3.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,382,724 shares of the shipping company’s stock worth $8,483,000 after buying an additional 87,910 shares during the last quarter. Renaissance Technologies LLC grew its stake in StealthGas by 1.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,922,000 shares of the shipping company’s stock worth $6,842,000 after buying an additional 35,312 shares during the last quarter. Towerview LLC grew its stake in StealthGas by 34.7% during the 4th quarter. Towerview LLC now owns 485,000 shares of the shipping company’s stock worth $1,339,000 after buying an additional 125,000 shares during the last quarter. BlackRock Inc. purchased a new position in StealthGas during the 4th quarter worth approximately $592,000. Finally, Geode Capital Management LLC grew its stake in StealthGas by 71.5% during the 4th quarter. Geode Capital Management LLC now owns 29,544 shares of the shipping company’s stock worth $81,000 after buying an additional 12,321 shares during the last quarter. Hedge funds and other institutional investors own 60.39% of the company’s stock.

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About StealthGas

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

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