Insider Buying: StealthGas Inc. (NASDAQ:GASS) Major Shareholder Acquires 783,329 Shares of Stock

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StealthGas Inc. (NASDAQ:GASS) major shareholder Glendon Capital Management Lp purchased 783,329 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was bought at an average price of $3.44 per share, for a total transaction of $2,694,651.76. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% 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, November 7th, Glendon Capital Management Lp purchased 12,214 shares of StealthGas stock. The stock was bought at an average price of $3.43 per share, for a total transaction of $41,894.02.
  • On Friday, November 9th, Glendon Capital Management Lp purchased 18,914 shares of StealthGas stock. The stock was bought at an average price of $3.42 per share, for a total transaction of $64,685.88.
  • On Monday, November 5th, Glendon Capital Management Lp acquired 5,000 shares of StealthGas stock. The stock was acquired at an average cost of $3.42 per share, with a total value of $17,100.00.
  • On Tuesday, October 30th, Glendon Capital Management Lp acquired 23,200 shares of StealthGas stock. The stock was acquired at an average cost of $3.36 per share, with a total value of $77,952.00.
  • On Thursday, October 25th, Glendon Capital Management Lp acquired 18,696 shares of StealthGas stock. The stock was acquired at an average cost of $3.45 per share, with a total value of $64,501.20.
  • On Friday, October 19th, Glendon Capital Management Lp acquired 40,300 shares of StealthGas stock. The stock was acquired at an average cost of $3.47 per share, with a total value of $139,841.00.
  • On Tuesday, October 23rd, Glendon Capital Management Lp acquired 92,000 shares of StealthGas stock. The stock was acquired at an average cost of $3.48 per share, with a total value of $320,160.00.
  • On Friday, October 12th, Glendon Capital Management Lp acquired 680,093 shares of StealthGas stock. The stock was acquired at an average cost of $3.44 per share, with a total value of $2,339,519.92.

Shares of StealthGas stock traded down $0.05 on Friday, reaching $3.41. 33,374 shares of the stock were exchanged, compared to its average volume of 102,936. StealthGas Inc. has a one year low of $3.25 and a one year high of $4.70. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The company has a market cap of $137.52 million, a PE ratio of 24.36 and a beta of 1.27.

StealthGas (NASDAQ:GASS) last issued its quarterly earnings results on Thursday, August 23rd. The shipping company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. StealthGas had a negative net margin of 4.80% and a positive return on equity of 0.60%. The company had revenue of $43.38 million during the quarter, compared to the consensus estimate of $37.32 million. Research analysts forecast that StealthGas Inc. will post 0.16 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of 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 acquiring an additional 87,910 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of StealthGas by 8.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,886,688 shares of the shipping company’s stock worth $7,490,000 after acquiring an additional 148,888 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of StealthGas by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,654,026 shares of the shipping company’s stock worth $6,566,000 after acquiring an additional 22,868 shares during the period. Towerview LLC lifted its holdings in shares of StealthGas by 10.8% during the 3rd quarter. Towerview LLC now owns 360,000 shares of the shipping company’s stock worth $1,282,000 after acquiring an additional 35,000 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of StealthGas by 26.4% during the 2nd quarter. Macquarie Group Ltd. now owns 68,157 shares of the shipping company’s stock worth $271,000 after acquiring an additional 14,240 shares during the period. 59.95% of the stock is owned by institutional investors.

GASS has been the subject of a number of recent research reports. Maxim Group initiated coverage on shares of StealthGas in a report on Thursday, October 25th. They issued a “buy” rating and a $6.00 price objective for the company. Zacks Investment Research raised shares of StealthGas from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Wednesday, October 10th. Finally, ValuEngine raised shares of StealthGas from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. StealthGas presently has a consensus rating of “Buy” and an average price target of $5.58.

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StealthGas Company Profile

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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Insider Buying and Selling by Quarter for StealthGas (NASDAQ:GASS)

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