Mark Romaine Sells 9,000 Shares of Global Partners (NYSE:GLP) Stock

Key Points

• Mark Romaine, COO of Global Partners LP, sold 9,000 shares at an average price of $50.38, totaling $453,420, reducing his position by 6.06%.
• Global Partners LP's recent earnings report showed a missed estimate with earnings per share at $0.55, below the expected $0.60, and a revenue of $4.63 billion.
• The company increased its quarterly dividend to $0.75 per share, with a yield of 5.9%, while the dividend payout ratio is currently at 115.38%.

Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 9,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $50.38, for a total value of $453,420.00. Following the transaction, the chief operating officer directly owned 139,531 shares in the company, valued at approximately $7,029,571.78. This represents a 6.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mark Romaine also recently made the following trade(s):

• On Wednesday, July 16th, Mark Romaine sold 1,881 shares of Global Partners stock. The stock was sold at an average price of $51.68, for a total value of $97,210.08.
• On Tuesday, July 15th, Mark Romaine sold 7,119 shares of Global Partners stock. The shares were sold at an average price of $51.28, for a total value of $365,062.32.
• On Tuesday, June 24th, Mark Romaine sold 6,659 shares of Global Partners stock. The shares were sold at an average price of $54.26, for a total value of $361,317.34.
• On Wednesday, June 25th, Mark Romaine sold 2,341 shares of Global Partners stock. The shares were sold at an average price of $51.53, for a total value of $120,631.73.

Global Partners Stock Performance

GLP stock traded down $0.1350 during midday trading on Friday, hitting $50.8950. 36,103 shares of the company traded hands, compared to its average volume of 43,556. Global Partners LP has a twelve month low of $40.66 and a twelve month high of $60.00. The company has a quick ratio of 0.70, a current ratio of 1.18 and a debt-to-equity ratio of 2.74. The business has a 50 day simple moving average of $51.91 and a 200-day simple moving average of $52.60. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 19.58 and a beta of 1.02.

Global Partners (NYSE:GLP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $5.98 billion. Global Partners had a net margin of 0.64% and a return on equity of 17.95%. As a group, equities research analysts predict that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 8th were paid a $0.75 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Global Partners's previous quarterly dividend of $0.75. This represents a $3.00 annualized dividend and a dividend yield of 5.9%. Global Partners's dividend payout ratio is 115.38%.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Global Partners to a "strong-buy" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $56.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cerity Partners LLC bought a new position in Global Partners in the fourth quarter worth $528,000. NBW Capital LLC lifted its position in Global Partners by 50.5% in the first quarter. NBW Capital LLC now owns 78,613 shares of the energy company's stock worth $4,196,000 after purchasing an additional 26,388 shares during the period. XTX Topco Ltd bought a new position in Global Partners in the fourth quarter worth $302,000. Focus Partners Wealth bought a new position in Global Partners in the fourth quarter worth $1,029,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Global Partners by 0.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,230 shares of the energy company's stock worth $1,667,000 after purchasing an additional 259 shares during the period. 38.12% of the stock is owned by institutional investors.

About Global Partners

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.