Global Partners LP (NYSE:GLP) COO Sells $97,210.08 in Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 1,881 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $51.68, for a total value of $97,210.08. Following the completion of the sale, the chief operating officer owned 148,531 shares in the company, valued at $7,676,082.08. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, July 15th, Mark Romaine sold 7,119 shares of Global Partners stock. The stock was sold at an average price of $51.28, for a total value of $365,062.32.
• On Tuesday, June 24th, Mark Romaine sold 6,659 shares of Global Partners stock. The stock was sold at an average price of $54.26, for a total transaction of $361,317.34.
• On Wednesday, June 25th, Mark Romaine sold 2,341 shares of Global Partners stock. The stock was sold at an average price of $51.53, for a total value of $120,631.73.

Global Partners Stock Performance

Shares of GLP stock opened at $50.87 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.17 and a quick ratio of 0.68. The company’s fifty day moving average price is $52.16 and its two-hundred day moving average price is $52.48. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00. The firm has a market capitalization of $1.73 billion, a P/E ratio of 16.15 and a beta of 1.03.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.39. The company had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $5.64 billion. Global Partners had a return on equity of 21.10% and a net margin of 0.76%. On average, research analysts anticipate that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were given a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date was Friday, May 9th. This is a positive change from Global Partners’s previous quarterly dividend of $0.74. Global Partners’s dividend payout ratio (DPR) is currently 94.60%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GLP. Alps Advisors Inc. boosted its holdings in Global Partners by 12.8% in the first quarter. Alps Advisors Inc. now owns 5,584,745 shares of the energy company’s stock worth $298,114,000 after acquiring an additional 635,126 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Global Partners during the 2nd quarter valued at about $178,723,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Global Partners by 14.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,849,454 shares of the energy company’s stock valued at $98,724,000 after acquiring an additional 240,342 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Global Partners by 1.6% in the 2nd quarter. Pallas Capital Advisors LLC now owns 1,627,973 shares of the energy company’s stock worth $85,843,000 after purchasing an additional 26,069 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Global Partners in the 4th quarter valued at approximately $6,510,000. 38.12% of the stock is currently owned by 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.