Insider Buying: Global Partners LP (NYSE:GLP) Insider Buys $52,637.00 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 1,300 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $40.49 per share, with a total value of $52,637.00. Following the completion of the acquisition, the insider now owns 194,281 shares of the company’s stock, valued at approximately $7,866,437.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Global Gp Llc also recently made the following trade(s):

• On Monday, August 19th, Global Gp Llc bought 2,400 shares of Global Partners stock. The stock was bought at an average price of $41.88 per share, with a total value of $100,512.00.
• On Thursday, June 20th, Global Gp Llc bought 10,000 shares of Global Partners stock. The stock was bought at an average price of $45.68 per share, with a total value of $456,800.00.
• On Monday, June 17th, Global Gp Llc bought 10,000 shares of Global Partners stock. The stock was bought at an average price of $47.37 per share, with a total value of $473,700.00.
• On Monday, June 10th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $50.23 per share, with a total value of $502,300.00.
• On Thursday, May 30th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $46.69 per share, with a total value of $466,900.00.
• On Tuesday, May 28th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $44.63 per share, with a total value of $446,300.00.
• On Friday, May 24th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $44.92 per share, with a total value of $449,200.00.
• On Wednesday, May 22nd, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $43.49 per share, with a total value of $434,900.00.

Global Partners Price Performance

Shares of GLP stock opened at $42.48 on Thursday. The company has a market capitalization of $1.44 billion, a PE ratio of 15.79 and a beta of 1.38. The firm has a fifty day simple moving average of $42.59 and a 200-day simple moving average of $45.02. The company has a current ratio of 1.17, a quick ratio of 0.76 and a debt-to-equity ratio of 2.23. Global Partners LP has a twelve month low of $27.07 and a twelve month high of $50.85.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 6.78%. Global Partners’s dividend payout ratio is 107.06%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus boosted their price objective on shares of Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Global Partners in the second quarter valued at $41,000. Signaturefd LLC purchased a new position in shares of Global Partners in the fourth quarter valued at $85,000. Albert D Mason Inc. acquired a new stake in Global Partners in the first quarter valued at $203,000. Spinnaker Trust acquired a new stake in Global Partners in the second quarter valued at $203,000. Finally, Virtu Financial LLC acquired a new stake in Global Partners in the fourth quarter valued at $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.