Global Partners LP (NYSE:GLP) Shares Sold by Proficio Capital Partners LLC

Proficio Capital Partners LLC decreased its stake in shares of Global Partners LP (NYSE:GLP - Free Report) by 17.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,630 shares of the energy company's stock after selling 21,370 shares during the quarter. Proficio Capital Partners LLC owned about 0.30% of Global Partners worth $5,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Silverberg Bernstein Capital Management LLC purchased a new position in Global Partners in the 1st quarter worth about $222,000. Virtu Financial LLC acquired a new stake in Global Partners in the 4th quarter worth approximately $288,000. XTX Topco Ltd acquired a new stake in Global Partners in the 4th quarter worth approximately $302,000. Marcum Wealth LLC acquired a new stake in Global Partners in the 1st quarter worth approximately $356,000. Finally, Cerity Partners LLC acquired a new stake in Global Partners in the 4th quarter worth approximately $528,000. Institutional investors own 38.12% of the company's stock.

Insider Transactions at Global Partners

In related news, COO Mark Romaine sold 1,881 shares of Global Partners stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $51.68, for a total value of $97,210.08. Following the sale, the chief operating officer owned 148,531 shares of the company's stock, valued at approximately $7,676,082.08. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 18,000 shares of company stock valued at $944,221. 41.50% of the stock is currently owned by company insiders.

Global Partners Stock Performance

GLP traded down $0.39 during trading on Friday, reaching $51.79. 16,326 shares of the company's stock were exchanged, compared to its average volume of 68,379. Global Partners LP has a 1 year low of $37.00 and a 1 year high of $60.00. 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 stock has a market capitalization of $1.76 billion, a P/E ratio of 16.44 and a beta of 1.03. The company's fifty day simple moving average is $52.49 and its 200-day simple moving average is $52.65.

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

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 5.79%. This is a boost from Global Partners's previous quarterly dividend of $0.75. Global Partners's dividend payout ratio (DPR) is currently 94.60%.

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.