Short Interest in Global Partners LP (NYSE:GLP) Expands By 25.1%

Global Partners LP (NYSE:GLP) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 781,100 shares, a growth of 25.1% from the June 30th total of 624,400 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 87,200 shares, the short-interest ratio is currently 9.0 days.

Global Partners Stock Up 1.0 %

Shares of Global Partners stock traded up $0.41 during trading on Tuesday, reaching $39.71. 18,638 shares of the company traded hands, compared to its average volume of 114,315. Global Partners has a 1-year low of $27.07 and a 1-year high of $50.85. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76. The firm has a market capitalization of $1.37 billion, a PE ratio of 15.04 and a beta of 1.38. The company has a 50 day moving average price of $44.91 and a 200-day moving average price of $45.57.

Global Partners (NYSE:GLP) last announced its quarterly earnings results 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). Global Partners had a return on equity of 18.45% and a net margin of 0.71%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $5.22 billion. As a group, equities research analysts expect that Global Partners will post 3.53 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 8th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $2.88 annualized dividend and a yield of 7.25%. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio (DPR) is 105.58%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, insider Global Gp Llc acquired 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average cost of $45.68 per share, with a total value of $456,800.00. Following the acquisition, the insider now directly owns 192,981 shares in the company, valued at approximately $8,815,372.08. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders acquired 110,000 shares of company stock worth $4,979,700. Company insiders own 41.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GLP. International Assets Investment Management LLC purchased a new stake in Global Partners in the second quarter valued at approximately $41,000. Signaturefd LLC purchased a new position in shares of Global Partners during the fourth quarter valued at about $85,000. Tower Research Capital LLC TRC grew its holdings in shares of Global Partners by 592.1% during the 4th 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 period. Albert D Mason Inc. bought a new position in Global Partners in the first quarter worth $203,000. Finally, Virtu Financial LLC purchased a new position in Global Partners during the 4th quarter valued at about $206,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.

Global Partners Company 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.