Insider Selling: Global Partners (NYSE:GLP) COO Sells $120,000.00 in Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,500 shares of Global Partners stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $48.00, for a total transaction of $120,000.00. Following the completion of the sale, the chief operating officer owned 166,609 shares of the company’s stock, valued at $7,997,232. This trade represents a 1.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mark Romaine also recently made the following trade(s):

• On Tuesday, March 10th, Mark Romaine sold 252 shares of Global Partners stock. The shares were sold at an average price of $48.50, for a total transaction of $12,222.00.

Global Partners Stock Performance

Shares of NYSE:GLP opened at $46.15 on Friday. Global Partners LP has a 12-month low of $39.58 and a 12-month high of $56.59. The company’s 50 day moving average price is $46.40 and its two-hundred day moving average price is $46.13. The firm has a market cap of $1.57 billion, a PE ratio of 21.87 and a beta of 1.00. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 2.74.

Global Partners (NYSE:GLP) last released its quarterly earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $6.94 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.99%. Equities research analysts predict that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were paid a dividend of $0.76 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, February 9th. This represents a $3.04 dividend on an annualized basis and a yield of 6.6%. Global Partners’s dividend payout ratio is 144.08%.

Analyst Ratings Changes

GLP has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Global Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Stifel Nicolaus raised their price target on Global Partners from $45.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, March 2nd. Zacks Research raised Global Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Partners currently has an average rating of “Hold” and an average price target of $46.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in shares of Global Partners in the first quarter worth about $862,000. Cetera Investment Advisers grew its holdings in shares of Global Partners by 40.3% during the 2nd quarter. Cetera Investment Advisers now owns 24,815 shares of the energy company’s stock valued at $1,308,000 after purchasing an additional 7,123 shares during the last quarter. Traub Capital Management LLC bought a new stake in shares of Global Partners during the 2nd quarter valued at approximately $192,000. JPMorgan Chase & Co. increased its position in Global Partners by 37.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company’s stock worth $17,610,000 after purchasing an additional 90,169 shares in the last quarter. Finally, NBW Capital LLC increased its position in Global Partners by 1.5% during the 2nd quarter. NBW Capital LLC now owns 79,794 shares of the energy company’s stock worth $4,208,000 after purchasing an additional 1,181 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.