Insider Buying: Global Partners LP (NYSE:GLP) Insider Acquires $220,100.00 in Stock

Posted by Scott Moore on Sep 22nd, 2024

Global Partners LP (NYSE:GLP – Get Free Report) insider Global Gp Llc bought 5,000 shares of Global Partners stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average cost of $44.02 per share, for a total transaction of $220,100.00. Following the completion of the acquisition, the insider now directly owns 266,081 shares of the company’s stock, valued at approximately $11,712,885.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

On Monday, September 16th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The shares were purchased at an average price of $43.07 per share, with a total value of $215,350.00.
On Friday, September 13th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were purchased at an average cost of $42.84 per share, for a total transaction of $214,200.00.
On Tuesday, September 10th, Global Gp Llc bought 4,800 shares of Global Partners stock. The stock was acquired at an average cost of $43.17 per share, with a total value of $207,216.00.
On Thursday, September 5th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The shares were acquired at an average cost of $42.40 per share, for a total transaction of $212,000.00.
On Thursday, August 29th, Global Gp Llc bought 7,500 shares of Global Partners stock. The stock was acquired at an average price of $45.08 per share, for a total transaction of $338,100.00.
On Tuesday, August 27th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The stock was bought at an average price of $42.67 per share, with a total value of $213,350.00.
On Monday, August 19th, Global Gp Llc acquired 2,400 shares of Global Partners stock. The shares were bought at an average cost of $41.88 per share, for a total transaction of $100,512.00.
On Thursday, August 15th, Global Gp Llc acquired 1,300 shares of Global Partners stock. The stock was bought at an average cost of $40.49 per share, with a total value of $52,637.00.

Global Partners Price Performance

Global Partners stock opened at $45.15 on Friday. The firm has a market capitalization of $1.53 billion, a PE ratio of 16.78 and a beta of 1.38. Global Partners LP has a 12-month low of $27.07 and a 12-month high of $50.85. The firm has a 50-day moving average price of $41.61 and a 200-day moving average price of $44.50. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 2.52.

Global Partners (NYSE:GLP – Get Free Report) last announced its earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.40). The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Global Partners had a net margin of 0.71% and a return on equity of 19.21%. As a group, equities research analysts forecast that Global Partners LP will post 3.19 EPS for the current year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 6.38%. The ex-dividend date was Thursday, August 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio is 107.06%.

Analysts Set New Price Targets

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

View Our Latest Stock Report on GLP

Institutional Trading of Global Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in Global Partners in the 2nd quarter worth about $41,000. Spinnaker Trust bought a new position in Global Partners in the 2nd quarter worth about $203,000. Albert D Mason Inc. purchased a new position in shares of Global Partners during the first quarter worth approximately $203,000. Virtu Financial LLC bought a new stake in shares of Global Partners during the fourth quarter valued at approximately $206,000. Finally, Crescent Grove Advisors LLC purchased a new stake in shares of Global Partners in the first quarter valued at approximately $318,000. 38.12% of the stock is currently owned by institutional investors.

About Global Partners

(Get Free Report)

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.