Y Intercept Hong Kong Ltd Sells 63,684 Shares of Dorian LPG Ltd. $LPG

Key Points

• Y Intercept Hong Kong Ltd cut its Dorian LPG stake by 51.2% in the first quarter, selling 63,684 shares and leaving it with 60,592 shares valued at about $2.07 million.
• Insider selling was also notable: Director Ted Kalborg and insider Tim Truels Hansen both sold shares in recent transactions, reducing their holdings by 18.81% and 11.25%, respectively.
• Analysts remain mixed but constructive on Dorian LPG, with a consensus rating of “Moderate Buy” and an average price target of $55, while the company recently topped earnings estimates and paid a $1.00 special dividend.

Y Intercept Hong Kong Ltd decreased its position in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 51.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,592 shares of the shipping company's stock after selling 63,684 shares during the period. Y Intercept Hong Kong Ltd owned about 0.14% of Dorian LPG worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its stake in Dorian LPG by 2.1% during the fourth quarter. IHT Wealth Management LLC now owns 17,804 shares of the shipping company's stock worth $433,000 after purchasing an additional 365 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Dorian LPG by 0.8% in the 4th quarter. WINTON GROUP Ltd now owns 44,640 shares of the shipping company's stock valued at $1,087,000 after purchasing an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Dorian LPG by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company's stock valued at $324,000 after purchasing an additional 390 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Dorian LPG by 18.7% during the 4th quarter. CoreCap Advisors LLC now owns 3,269 shares of the shipping company's stock worth $80,000 after buying an additional 514 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of Dorian LPG by 2.8% during the 3rd quarter. Vident Advisory LLC now owns 20,918 shares of the shipping company's stock worth $623,000 after buying an additional 577 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ted Kalborg sold 15,373 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the sale, the director directly owned 66,348 shares in the company, valued at $2,989,640.88. This represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tim Truels Hansen sold 20,000 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total transaction of $707,600.00. Following the completion of the transaction, the insider owned 157,842 shares in the company, valued at approximately $5,584,449.96. The trade was a 11.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 13.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LPG. Weiss Ratings raised Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Jefferies Financial Group boosted their target price on Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Pareto Securities reissued a "buy" rating on shares of Dorian LPG in a report on Thursday, May 21st. Wall Street Zen upgraded shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. Finally, Freedom Capital lowered shares of Dorian LPG from a "strong-buy" rating to a "hold" rating in a report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Dorian LPG presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Dorian LPG Price Performance

Shares of LPG opened at $40.62 on Thursday. The business has a 50-day moving average of $40.70 and a 200-day moving average of $34.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.67 and a quick ratio of 2.65. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 8.93 and a beta of 0.66. Dorian LPG Ltd. has a 1 year low of $23.76 and a 1 year high of $48.12.

Dorian LPG (NYSE:LPG - Get Free Report) last announced its earnings results on Tuesday, May 19th. The shipping company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.41 by $0.48. The business had revenue of $153.27 million for the quarter, compared to analysts' expectations of $128.87 million. Dorian LPG had a return on equity of 18.01% and a net margin of 40.22%.The firm's revenue was up 102.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share.

Dorian LPG Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were paid a $1.00 dividend. This represents a dividend yield of 951.0%. The ex-dividend date of this dividend was Monday, May 18th.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG's fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.

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