Towerview LLC Has $24.70 Million Stock Position in StealthGas, Inc. $GASS

Key Points

• Towerview LLC trimmed its StealthGas stake by 12.3% in the first quarter, but still held 2.69 million shares valued at about $24.7 million. The position remains a major one for the firm, making up roughly 15.9% of its portfolio and its second-largest holding.
• StealthGas reported better-than-expected quarterly results, posting earnings of $0.40 per share versus the $0.38 consensus and revenue of $42.84 million versus $38.40 million expected. The company also showed a strong net margin of 35.91%.
• Sentiment around the stock remains positive, with Wall Street Zen upgrading StealthGas from hold to buy and MarketBeat citing a consensus rating of Buy. Institutional ownership is also high, with 66.32% of shares held by institutions.

Towerview LLC lowered its holdings in StealthGas, Inc. (NASDAQ:GASS - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,690,958 shares of the shipping company's stock after selling 376,542 shares during the quarter. StealthGas makes up about 15.9% of Towerview LLC's investment portfolio, making the stock its 2nd largest holding. Towerview LLC owned approximately 7.17% of StealthGas worth $24,703,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of StealthGas by 701.2% during the fourth quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company's stock valued at $58,000 after buying an additional 8,982 shares during the period. Jump Financial LLC lifted its stake in StealthGas by 249.2% in the second quarter. Jump Financial LLC now owns 38,651 shares of the shipping company's stock worth $248,000 after acquiring an additional 27,583 shares during the period. Jane Street Group LLC bought a new stake in StealthGas in the second quarter valued at $91,000. WINTON GROUP Ltd bought a new stake in StealthGas in the third quarter valued at $276,000. Finally, UBS Group AG boosted its holdings in StealthGas by 21.4% in the third quarter. UBS Group AG now owns 260,133 shares of the shipping company's stock valued at $1,704,000 after acquiring an additional 45,846 shares in the last quarter. 66.32% of the stock is currently owned by institutional investors.

StealthGas Price Performance

Shares of GASS opened at $8.69 on Friday. The company has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $8.82. The firm has a market capitalization of $326.05 million, a PE ratio of 5.17 and a beta of 0.25. StealthGas, Inc. has a one year low of $6.12 and a one year high of $10.55.

StealthGas (NASDAQ:GASS - Get Free Report) last posted its earnings results on Friday, June 5th. The shipping company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The firm had revenue of $42.84 million for the quarter, compared to the consensus estimate of $38.40 million. StealthGas had a return on equity of 8.72% and a net margin of 35.91%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of StealthGas from a "hold" rating to a "buy" rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, StealthGas has a consensus rating of "Buy".

About StealthGas

StealthGas Inc is an international shipping company specializing in the seaborne transportation of liquefied petroleum gases (LPG), including propane, butane and ammonia. The company operates a fleet of modern pressurized LPG carriers with capacities ranging from approximately 2,500 to 9,100 cubic meters, providing safe and efficient carriage of petrochemical gases worldwide.

Founded in 2005 and incorporated in the Republic of the Marshall Islands, StealthGas is headquartered in Athens, Greece, with additional commercial and operational offices in major shipping centers across Europe and Asia.

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