Dorian LPG (NYSE:LPG) Shares Gap Up - Here's Why

Shares of Dorian LPG Ltd. (NYSE:LPG - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $25.03, but opened at $25.58. Dorian LPG shares last traded at $25.78, with a volume of 41,577 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st.

Dorian LPG Price Performance

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.85 and a beta of 0.74. The company has a quick ratio of 3.52, a current ratio of 3.54 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average price is $22.20 and its two-hundred day moving average price is $22.67.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The shipping company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. The business had revenue of $75.89 million during the quarter, compared to analyst estimates of $79.04 million. Dorian LPG had a return on equity of 8.88% and a net margin of 25.52%. The firm's revenue was down 46.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. Analysts anticipate that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.50 dividend. This represents a dividend yield of 13.5%. The ex-dividend date of this dividend was Friday, May 16th.

Insiders Place Their Bets

In other Dorian LPG news, CEO John C. Hadjipateras bought 12,500 shares of the stock in a transaction dated Tuesday, April 8th. The stock was bought at an average cost of $17.75 per share, for a total transaction of $221,875.00. Following the completion of the purchase, the chief executive officer now owns 1,824,386 shares in the company, valued at $32,382,851.50. This represents a 0.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.40% of the company's stock.

Hedge Funds Weigh In On Dorian LPG

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in Dorian LPG by 3,728.9% in the first quarter. Millennium Management LLC now owns 997,470 shares of the shipping company's stock worth $22,283,000 after purchasing an additional 971,419 shares during the period. Sparta 24 Ltd. acquired a new position in Dorian LPG in the first quarter valued at about $5,036,000. Voloridge Investment Management LLC bought a new stake in shares of Dorian LPG in the 4th quarter valued at about $4,669,000. American Century Companies Inc. boosted its stake in Dorian LPG by 11.0% during the 4th quarter. American Century Companies Inc. now owns 1,352,071 shares of the shipping company's stock worth $32,950,000 after acquiring an additional 134,289 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in Dorian LPG during the fourth quarter valued at approximately $2,838,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.