Global Partners LP (NYSE:GLP) Insider Acquires $100,512.00 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 2,400 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average price of $41.88 per share, with a total value of $100,512.00. Following the transaction, the insider now directly owns 196,681 shares in the company, valued at $8,237,000.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, August 15th, Global Gp Llc bought 1,300 shares of Global Partners stock. The shares were purchased at an average price of $40.49 per share, with a total value of $52,637.00.
• On Thursday, June 20th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased 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 shares were purchased at an average price of $47.37 per share, with a total value of $473,700.00.
• On Monday, June 10th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased at an average price of $50.23 per share, with a total value of $502,300.00.
• On Thursday, May 30th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased at an average price of $46.69 per share, with a total value of $466,900.00.
• On Tuesday, May 28th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased 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 bought at an average cost of $44.92 per share, for a total transaction of $449,200.00.
• On Wednesday, May 22nd, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were bought at an average cost of $43.49 per share, for a total transaction of $434,900.00.

Global Partners Stock Up 0.3 %

Shares of NYSE:GLP opened at $42.48 on Thursday. Global Partners LP has a 12 month low of $27.07 and a 12 month high of $50.85. The company’s 50-day moving average price is $42.59 and its two-hundred day moving average price is $45.02. The company has a quick ratio of 0.76, a current ratio of 1.17 and a debt-to-equity ratio of 2.23. The firm has a market cap of $1.44 billion, a P/E ratio of 15.79 and a beta of 1.38.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, August 8th. This represents a $2.88 dividend on an annualized basis and a yield of 6.78%. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio is currently 107.06%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Global Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Albert D Mason Inc. boosted its stake in shares of Global Partners by 6.6% in the 2nd quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock valued at $222,000 after purchasing an additional 300 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Global Partners by 0.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock valued at $5,038,000 after purchasing an additional 319 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Global Partners by 3.1% in the 4th quarter. Apollon Wealth Management LLC now owns 10,829 shares of the energy company’s stock valued at $458,000 after purchasing an additional 325 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Global Partners by 0.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock valued at $1,786,000 after purchasing an additional 342 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Global Partners by 5.3% in the 4th quarter. Raymond James & Associates now owns 15,909 shares of the energy company’s stock valued at $673,000 after purchasing an additional 807 shares during the last quarter. Institutional investors own 38.12% of the company’s stock.

About Global Partners

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.