Global Partners LP (NYSE:GLP) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC trimmed its position in shares of Global Partners LP (NYSE:GLP) by 12.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the energy company’s stock after selling 1,000 shares during the period. Tradition Wealth Management LLC’s holdings in Global Partners were worth $326,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GLP. Infrastructure Capital Advisors LLC increased its stake in Global Partners by 57.7% during the third quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock worth $6,572,000 after acquiring an additional 51,630 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Global Partners in the second quarter valued at approximately $41,000. Exchange Traded Concepts LLC raised its holdings in Global Partners by 2.2% in the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock valued at $1,548,000 after buying an additional 725 shares during the period. Spinnaker Trust acquired a new position in Global Partners during the second quarter valued at approximately $203,000. Finally, Fiducient Advisors LLC purchased a new stake in Global Partners during the third quarter worth approximately $474,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Global Partners news, insider Global Gp Llc purchased 4,800 shares of Global Partners stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $43.17 per share, with a total value of $207,216.00. Following the completion of the acquisition, the insider now owns 243,981 shares of the company’s stock, valued at approximately $10,532,659.77. This trade represents a 2.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought 27,026 shares of company stock valued at $1,168,390 in the last quarter. Company insiders own 41.50% of the company’s stock.

Global Partners Stock Up 3.1 %

NYSE GLP opened at $56.45 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. Global Partners LP has a fifty-two week low of $35.60 and a fifty-two week high of $56.45. The business has a 50 day moving average price of $48.32 and a two-hundred day moving average price of $45.29. The stock has a market cap of $1.92 billion, a PE ratio of 17.05 and a beta of 1.38.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 5.17%. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Friday, November 8th. Global Partners’s dividend payout ratio (DPR) is presently 88.22%.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their price target on shares of Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

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.