Virtu Financial LLC Purchases New Position in Global Partners LP (NYSE:GLP)

Virtu Financial LLC purchased a new stake in Global Partners LP (NYSE:GLP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,180 shares of the energy company’s stock, valued at approximately $288,000.

Several other hedge funds have also bought and sold shares of the stock. US Bancorp DE increased its holdings in shares of Global Partners by 54.1% during the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock valued at $66,000 after purchasing an additional 500 shares in the last quarter. Albert D Mason Inc. grew its position in Global Partners by 11.8% during the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after buying an additional 575 shares during the period. SVB Wealth LLC purchased a new position in Global Partners in the fourth quarter valued at $330,000. BBR Partners LLC acquired a new position in shares of Global Partners in the fourth quarter worth about $337,000. Finally, Stifel Financial Corp boosted its stake in shares of Global Partners by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after acquiring an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Insider Transactions at Global Partners

In related news, COO Mark Romaine sold 2,195 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.06, for a total value of $118,661.70. Following the transaction, the chief operating officer now directly owns 156,198 shares of the company’s stock, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 41.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered Global Partners from a “buy” rating to a “hold” rating and lifted their price target for the company from $54.00 to $56.00 in a research note on Tuesday, March 4th.

Global Partners Trading Up 1.3 %

Shares of NYSE:GLP opened at $54.13 on Friday. The business’s 50 day moving average price is $55.36 and its 200-day moving average price is $50.85. Global Partners LP has a 1 year low of $37.00 and a 1 year high of $60.00. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.35 and a beta of 1.53. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were given a $0.74 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.96 annualized dividend and a dividend yield of 5.47%. Global Partners’s dividend payout ratio (DPR) is 122.31%.

Global Partners Profile

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.