Global Partners LP (NYSE:GLP) COO Mark Romaine Sells 2,195 Shares

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,195 shares of Global Partners stock in a transaction on Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the completion of the sale, the chief operating officer now directly owns 156,198 shares of the company’s stock, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, March 24th, Mark Romaine sold 11 shares of Global Partners stock. The shares were sold at an average price of $54.00, for a total value of $594.00.

Global Partners Stock Performance

Shares of GLP stock opened at $53.75 on Wednesday. The firm has a market capitalization of $1.83 billion, a PE ratio of 16.24 and a beta of 1.53. The firm has a fifty day simple moving average of $55.26 and a two-hundred day simple moving average of $50.81. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a dividend yield of 5.51%. Global Partners’s payout ratio is presently 122.31%.

Hedge Funds Weigh In On Global Partners

A number of hedge funds have recently added to or reduced their stakes in GLP. SVB Wealth LLC purchased a new position in shares of Global Partners during the fourth quarter valued at approximately $330,000. JPMorgan Chase & Co. lifted its stake in Global Partners by 9,171.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock valued at $3,281,000 after acquiring an additional 69,704 shares in the last quarter. ING Groep NV purchased a new position in Global Partners during the 4th quarter worth $1,536,000. Proficio Capital Partners LLC grew its stake in shares of Global Partners by 4,555.0% in the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock worth $270,863,000 after acquiring an additional 5,693,750 shares in the last quarter. Finally, NBW Capital LLC purchased a new stake in shares of Global Partners in the fourth quarter valued at about $2,431,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered Global Partners from a “buy” rating to a “hold” rating and increased their price target for the stock from $54.00 to $56.00 in a report on Tuesday, March 4th.

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.