Dorian LPG Ltd. $LPG Position Lowered by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs significantly reduced its stake in Dorian LPG by 74.4%, now holding $3.08 million worth of shares after selling over 400,000 shares.
• Several institutional investors, including D. E. Shaw and Deutsche Bank, have increased their holdings in Dorian LPG, indicating renewed interest in the company among hedge funds.
• Dorian LPG's recent earnings report showed an EPS of $0.27, missing estimates, with a year-over-year revenue decline of 26.3%, raising concerns about its financial performance.

Goldman Sachs Group Inc. cut its holdings in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 74.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 137,854 shares of the shipping company's stock after selling 400,383 shares during the period. Goldman Sachs Group Inc. owned 0.32% of Dorian LPG worth $3,080,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LPG. Voya Investment Management LLC increased its holdings in shares of Dorian LPG by 14.8% during the 1st quarter. Voya Investment Management LLC now owns 18,128 shares of the shipping company's stock worth $405,000 after buying an additional 2,337 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Dorian LPG by 3.1% during the 1st quarter. Inspire Investing LLC now owns 18,206 shares of the shipping company's stock worth $407,000 after buying an additional 547 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Dorian LPG by 5.6% during the 1st quarter. Rhumbline Advisers now owns 131,761 shares of the shipping company's stock worth $2,944,000 after buying an additional 7,001 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Dorian LPG by 616.4% during the 1st quarter. Intech Investment Management LLC now owns 125,142 shares of the shipping company's stock worth $2,796,000 after buying an additional 107,675 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Dorian LPG by 18.3% during the 1st quarter. Focus Partners Wealth now owns 294,240 shares of the shipping company's stock worth $6,573,000 after buying an additional 45,590 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Dorian LPG Stock Up 3.0%

NYSE:LPG traded up $0.95 on Tuesday, reaching $32.62. The stock had a trading volume of 39,929 shares, compared to its average volume of 710,482. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $30.51 and a 200 day moving average of $25.35. The stock has a market cap of $1.39 billion, a P/E ratio of 28.36 and a beta of 0.82. Dorian LPG Ltd. has a 12-month low of $16.66 and a 12-month high of $37.16.

Dorian LPG (NYSE:LPG - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The shipping company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.34). The firm had revenue of $84.21 million during the quarter, compared to analysts' expectations of $86.53 million. Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. The business's quarterly revenue was down 26.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. On average, research analysts predict that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.40 annualized dividend and a dividend yield of 7.4%.

Insider Activity at Dorian LPG

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $32.38, for a total transaction of $161,900.00. Following the transaction, the chief operating officer owned 89,440 shares of the company's stock, valued at approximately $2,896,067.20. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.60% of the company's stock.

Wall Street Analyst Weigh In

LPG has been the subject of several recent research reports. Zacks Research downgraded Dorian LPG from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. Wall Street Zen upgraded Dorian LPG from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Finally, Jefferies Financial Group increased their price target on Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Dorian LPG currently has an average rating of "Moderate Buy" and an average target price of $35.00.

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.