Global Gp Llc Buys 1,300 Shares of Global Partners LP (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc purchased 1,300 shares of Global Partners stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $40.49 per share, with a total value of $52,637.00. Following the completion of the transaction, the insider now directly owns 194,281 shares of the company’s stock, valued at $7,866,437.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Global Gp Llc also recently made the following trade(s):

• On Monday, August 19th, Global Gp Llc purchased 2,400 shares of Global Partners stock. The stock was bought at an average cost of $41.88 per share, with a total value of $100,512.00.
• On Thursday, June 20th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $45.68 per share, with a total value of $456,800.00.
• On Monday, June 17th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $47.37 per share, with a total value of $473,700.00.
• On Monday, June 10th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $50.23 per share, with a total value of $502,300.00.
• On Thursday, May 30th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $46.69 per share, with a total value of $466,900.00.
• On Tuesday, May 28th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $44.63 per share, with a total value of $446,300.00.
• On Friday, May 24th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $44.92 per share, with a total value of $449,200.00.
• On Wednesday, May 22nd, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average cost of $43.49 per share, for a total transaction of $434,900.00.

Global Partners Price Performance

Shares of GLP opened at $42.48 on Thursday. The firm has a market cap of $1.44 billion, a PE ratio of 15.79 and a beta of 1.38. The firm’s 50 day moving average price is $42.59 and its 200 day moving average price is $45.02. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.76 and a current ratio of 1.17. Global Partners LP has a twelve month low of $27.07 and a twelve month high of $50.85.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 6.78%. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio (DPR) is presently 107.06%.

Hedge Funds Weigh In On Global Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLP. International Assets Investment Management LLC bought a new position in Global Partners during the second quarter valued at approximately $41,000. Signaturefd LLC acquired a new position in Global Partners during the fourth quarter valued at approximately $85,000. Albert D Mason Inc. acquired a new position in Global Partners during the first quarter valued at approximately $203,000. Spinnaker Trust acquired a new position in Global Partners during the second quarter valued at approximately $203,000. Finally, Virtu Financial LLC acquired a new position in Global Partners during the fourth quarter valued at approximately $206,000. Institutional investors own 38.12% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised their price objective on shares of Global Partners from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, August 9th.

About Global Partners

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.