StealthGas Inc. (GASS) Major Shareholder Glendon Capital Management Lp Buys 18,914 Shares of Stock

StealthGas Inc. (NASDAQ:GASS) major shareholder Glendon Capital Management Lp purchased 18,914 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were acquired at an average cost of $3.42 per share, for a total transaction of $64,685.88. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Glendon Capital Management Lp also recently made the following trade(s):

  • On Wednesday, November 7th, Glendon Capital Management Lp purchased 12,214 shares of StealthGas stock. The shares were acquired at an average cost of $3.43 per share, for a total transaction of $41,894.02.
  • On Monday, November 5th, Glendon Capital Management Lp purchased 5,000 shares of StealthGas stock. The shares were acquired at an average cost of $3.42 per share, for a total transaction of $17,100.00.
  • On Tuesday, October 30th, Glendon Capital Management Lp purchased 23,200 shares of StealthGas stock. The shares were acquired at an average cost of $3.36 per share, for a total transaction of $77,952.00.
  • On Thursday, October 25th, Glendon Capital Management Lp purchased 18,696 shares of StealthGas stock. The shares were acquired at an average cost of $3.45 per share, for a total transaction of $64,501.20.
  • On Friday, October 19th, Glendon Capital Management Lp purchased 40,300 shares of StealthGas stock. The shares were acquired at an average cost of $3.47 per share, for a total transaction of $139,841.00.
  • On Tuesday, October 23rd, Glendon Capital Management Lp purchased 92,000 shares of StealthGas stock. The shares were acquired at an average cost of $3.48 per share, for a total transaction of $320,160.00.
  • On Friday, October 12th, Glendon Capital Management Lp purchased 680,093 shares of StealthGas stock. The shares were acquired at an average cost of $3.44 per share, for a total transaction of $2,339,519.92.
  • On Tuesday, October 16th, Glendon Capital Management Lp purchased 783,329 shares of StealthGas stock. The shares were acquired at an average cost of $3.44 per share, for a total transaction of $2,694,651.76.

Shares of NASDAQ:GASS traded down $0.05 during mid-day trading on Friday, reaching $3.41. 33,374 shares of the stock were exchanged, compared to its average volume of 102,936. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.90. The company has a market cap of $137.52 million, a PE ratio of 24.36 and a beta of 1.27. StealthGas Inc. has a one year low of $3.25 and a one year high of $4.70.

StealthGas (NASDAQ:GASS) last posted its quarterly earnings data on Thursday, August 23rd. The shipping company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. The business had revenue of $43.38 million during the quarter, compared to the consensus estimate of $37.32 million. StealthGas had a positive return on equity of 0.60% and a negative net margin of 4.80%. On average, research analysts predict that StealthGas Inc. will post 0.16 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded StealthGas from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Wednesday, October 10th. Maxim Group assumed coverage on StealthGas in a report on Thursday, October 25th. They set a “buy” rating and a $6.00 price objective for the company. Finally, ValuEngine upgraded StealthGas from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.58.

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in shares of StealthGas by 3.8% during the third quarter. Russell Investments Group Ltd. now owns 2,382,724 shares of the shipping company’s stock worth $8,483,000 after buying an additional 87,910 shares in the last quarter. Renaissance Technologies LLC grew its stake in StealthGas by 8.6% in the second quarter. Renaissance Technologies LLC now owns 1,886,688 shares of the shipping company’s stock valued at $7,490,000 after purchasing an additional 148,888 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in StealthGas by 1.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,654,026 shares of the shipping company’s stock valued at $6,566,000 after purchasing an additional 22,868 shares in the last quarter. Towerview LLC grew its stake in StealthGas by 10.8% in the third quarter. Towerview LLC now owns 360,000 shares of the shipping company’s stock valued at $1,282,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in StealthGas by 26.4% in the second quarter. Macquarie Group Ltd. now owns 68,157 shares of the shipping company’s stock valued at $271,000 after purchasing an additional 14,240 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

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StealthGas Company Profile

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

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