Insider Buying: CrossAmerica Partners LP (NYSE:CAPL) Director Buys 2,706 Shares of Stock

Key Points

• Director Joseph V. Jr. Topper purchased 2,706 shares of CrossAmerica Partners LP stock at an average price of $20.01, increasing his ownership by 0.15% to a total of 1,857,649 shares valued at approximately $37.17 million.
• The company reported a quarterly EPS of $0.07, missing estimates, but had a revenue of $961.93 million, exceeding analyst expectations of $793.52 million.
• CrossAmerica Partners announced a quarterly dividend of $0.525, reflecting a 10.4% yield with a notably high dividend payout ratio of 185.84%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) Director Joseph V. Jr. Topper purchased 2,706 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $20.01 per share, with a total value of $54,147.06. Following the transaction, the director directly owned 1,857,649 shares in the company, valued at $37,171,556.49. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

CrossAmerica Partners Price Performance

Shares of CrossAmerica Partners stock traded down $0.26 on Wednesday, reaching $20.20. 74,103 shares of the company were exchanged, compared to its average volume of 35,807. The stock's 50 day moving average price is $21.17 and its 200-day moving average price is $22.37. CrossAmerica Partners LP has a 1-year low of $19.05 and a 1-year high of $25.73. The company has a market cap of $770.02 million, a P/E ratio of 17.88 and a beta of 0.55.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.13). CrossAmerica Partners had a negative return on equity of 32.78% and a net margin of 1.19%. The firm had revenue of $961.93 million for the quarter, compared to analyst estimates of $793.52 million. On average, research analysts predict that CrossAmerica Partners LP will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 4th will be issued a $0.525 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 10.4%. CrossAmerica Partners's dividend payout ratio is presently 185.84%.

Institutional Investors Weigh In On CrossAmerica Partners

Several hedge funds and other institutional investors have recently made changes to their positions in CAPL. SVB Wealth LLC acquired a new position in CrossAmerica Partners in the first quarter valued at approximately $33,000. Private Advisor Group LLC acquired a new position in shares of CrossAmerica Partners in the 1st quarter valued at $205,000. Kestra Private Wealth Services LLC purchased a new position in shares of CrossAmerica Partners in the 1st quarter valued at $388,000. Acadian Asset Management LLC purchased a new position in shares of CrossAmerica Partners in the 1st quarter valued at $535,000. Finally, Ellsworth Advisors LLC acquired a new stake in CrossAmerica Partners during the 1st quarter worth $648,000. Institutional investors and hedge funds own 24.06% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded CrossAmerica Partners from a "hold" rating to a "buy" rating in a report on Saturday.

About CrossAmerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.

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