Global Partners (NYSE:GLP) Receives Buy (B-) Rating from Weiss Ratings

Key Points

• Global Partners' stock has received a "buy (B-)" rating from Weiss Ratings, while Zacks Research downgraded it from "strong-buy" to "hold".
• In the last quarter, Global Partners reported $0.55 earnings per share, missing estimates of $0.60 and generating revenue of $4.63 billion, below the anticipated $5.98 billion.
• COO Mark Romaine sold 9,000 shares at an average price of $51.44, resulting in a 6.45% decrease in his ownership stake.

Global Partners (NYSE:GLP - Get Free Report)'s stock had its "buy (b-)" rating restated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Zacks Research lowered Global Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Global Partners presently has an average rating of "Hold" and a consensus target price of $56.00.

Global Partners Price Performance

Shares of GLP opened at $45.53 on Wednesday. Global Partners has a twelve month low of $43.20 and a twelve month high of $60.00. The stock's 50 day moving average is $50.50 and its two-hundred day moving average is $51.24. The firm has a market capitalization of $1.55 billion, a PE ratio of 17.51 and a beta of 0.95. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 2.74.

Global Partners (NYSE:GLP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.05). The business had revenue of $4.63 billion during the quarter, compared to analysts' expectations of $5.98 billion. Global Partners had a net margin of 0.64% and a return on equity of 17.95%. Research analysts anticipate that Global Partners will post 2.13 earnings per share for the current year.

Insider Activity at Global Partners

In other news, COO Mark Romaine sold 9,000 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $51.44, for a total transaction of $462,960.00. Following the completion of the sale, the chief operating officer directly owned 130,531 shares in the company, valued at $6,714,514.64. This represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 27,000 shares of company stock worth $1,378,652. Corporate insiders own 41.50% of the company's stock.

Institutional Trading of Global Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its holdings in shares of Global Partners by 42.9% during the 1st quarter. US Bancorp DE now owns 2,037 shares of the energy company's stock worth $109,000 after buying an additional 612 shares during the last quarter. Traub Capital Management LLC acquired a new stake in shares of Global Partners during the 2nd quarter worth $192,000. Inspire Advisors LLC acquired a new stake in shares of Global Partners during the 1st quarter worth $216,000. Geneos Wealth Management Inc. increased its holdings in Global Partners by 89.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,245 shares of the energy company's stock valued at $224,000 after purchasing an additional 2,000 shares in the last quarter. Finally, MGO One Seven LLC acquired a new stake in Global Partners in the 2nd quarter valued at $227,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Global Partners Company Profile

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.

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