Squarepoint Ops LLC Has $979,000 Position in Dorian LPG Ltd. $LPG

Key Points

• Squarepoint Ops LLC cut its Dorian LPG stake by 70.2% in the second quarter, selling 66,164 shares and retaining 28,136 shares valued at approximately $979,000. Institutional investors collectively own 62.5% of the company.
• Analyst sentiment remains positive, with Dorian LPG carrying a consensus “Buy” rating and an average price target of $55.00. However, insiders sold 126,000 shares worth about $6.16 million during the last quarter.
• Dorian LPG reported strong quarterly results, including earnings of $2.52 per share and revenue of $187.88 million, up 123.1% year over year. The company also paid a special $1.00-per-share dividend.

Squarepoint Ops LLC lessened its stake in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 70.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,136 shares of the shipping company's stock after selling 66,164 shares during the period. Squarepoint Ops LLC owned 0.07% of Dorian LPG worth $979,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Dorian LPG by 65.9% in the second quarter. Allworth Financial LP now owns 1,206 shares of the shipping company's stock worth $42,000 after buying an additional 479 shares during the last quarter. Corient Private Wealth LP acquired a new position in Dorian LPG in the 2nd quarter valued at $253,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Dorian LPG in the 2nd quarter valued at $1,478,000. BTG Pactual Asset Management US LLC bought a new position in Dorian LPG in the 2nd quarter worth $234,000. Finally, Navellier & Associates Inc. bought a new position in Dorian LPG in the 2nd quarter worth $2,158,000. Institutional investors own 62.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Pareto Securities reissued a "buy" rating on shares of Dorian LPG in a research report on Thursday, May 21st. Freedom Capital raised Dorian LPG from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Jefferies Financial Group lifted their price objective on Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Wall Street Zen upgraded Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Dorian LPG in a report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Dorian LPG currently has a consensus rating of "Buy" and an average target price of $55.00.

Insider Transactions at Dorian LPG

In other news, COO Alexander Hadjipateras sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $54.13, for a total transaction of $270,650.00. Following the sale, the chief operating officer directly owned 95,836 shares in the company, valued at approximately $5,187,602.68. The trade was a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tim Hansen sold 50,000 shares of the company's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total value of $2,656,000.00. Following the completion of the transaction, the insider owned 107,675 shares of the company's stock, valued at $5,719,696. The trade was a 31.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 126,000 shares of company stock valued at $6,163,449. 13.50% of the stock is owned by corporate insiders.

Dorian LPG Stock Up 0.9%

Shares of LPG opened at $58.38 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The company has a 50-day simple moving average of $48.04 and a 200-day simple moving average of $41.46. Dorian LPG Ltd. has a 52 week low of $23.76 and a 52 week high of $59.97. The firm has a market capitalization of $2.50 billion, a P/E ratio of 7.73 and a beta of 0.61.

Dorian LPG (NYSE:LPG - Get Free Report) last released its earnings results on Tuesday, August 4th. The shipping company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.40. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%.The business had revenue of $187.88 million for the quarter, compared to the consensus estimate of $160.78 million. During the same period last year, the business earned $0.27 earnings per share. The firm's revenue for the quarter was up 123.1% compared to the same quarter last year.

Dorian LPG Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were given a $1.00 dividend. The ex-dividend date was Monday, July 27th.

Dorian LPG Company Profile

Dorian LPG Ltd. NYSE: LPG is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG's fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.

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