Leo Wealth LLC Grows Stake in Global Partners LP (NYSE:GLP)

Leo Wealth LLC increased its position in shares of Global Partners LP (NYSE:GLP) by 45.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,500 shares of the energy company’s stock after purchasing an additional 4,500 shares during the quarter. Leo Wealth LLC’s holdings in Global Partners were worth $647,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Signaturefd LLC acquired a new position in shares of Global Partners during the 4th quarter worth $85,000. Tower Research Capital LLC TRC raised its position in Global Partners by 592.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,090 shares of the energy company’s stock worth $88,000 after acquiring an additional 1,788 shares during the last quarter. Albert D Mason Inc. acquired a new position in Global Partners during the first quarter worth about $203,000. Virtu Financial LLC purchased a new stake in shares of Global Partners in the fourth quarter valued at about $206,000. Finally, Crescent Grove Advisors LLC acquired 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Global Gp Llc acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $43.29 per share, for a total transaction of $432,900.00. Following the acquisition, the insider now directly owns 47,981 shares in the company, valued at approximately $2,077,097.49. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 110,000 shares of company stock valued at $4,979,700. Insiders own 41.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

Global Partners Price Performance

GLP stock traded down $0.83 during trading on Friday, hitting $40.44. The stock had a trading volume of 41,563 shares, compared to its average volume of 117,889. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 15.03 and a beta of 1.38. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.76 and a current ratio of 1.17. The company’s 50 day moving average price is $45.34 and its two-hundred day moving average price is $45.61. Global Partners LP has a 1-year low of $27.07 and a 1-year high of $50.85.

Global Partners (NYSE:GLP) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.47). The firm had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Global Partners had a net margin of 0.71% and a return on equity of 18.45%. On average, sell-side analysts forecast that Global Partners LP will post 3.11 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 7.02%. Global Partners’s dividend payout ratio is 105.58%.

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.