Global Partners LP (NYSE:GLP) COO Mark Romaine Sells 7,119 Shares

Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 7,119 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $51.28, for a total transaction of $365,062.32. Following the sale, the chief operating officer directly owned 150,412 shares of the company's stock, valued at approximately $7,713,127.36. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, July 16th, Mark Romaine sold 1,881 shares of Global Partners stock. The shares were sold at an average price of $51.68, for a total transaction of $97,210.08.
• 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 transaction 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 transaction of $120,631.73.

Global Partners Stock Performance

Shares of Global Partners stock traded up $0.62 during midday trading on Friday, hitting $51.63. The company had a trading volume of 25,246 shares, compared to its average volume of 70,399. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 16.39 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 2.69. The company has a fifty day simple moving average of $52.16 and a 200 day simple moving average of $52.48. Global Partners LP has a 12-month low of $37.00 and a 12-month high of $60.00.

Global Partners (NYSE:GLP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.39. The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Global Partners had a net margin of 0.76% and a return on equity of 21.10%. As a group, analysts predict that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were given a $0.745 dividend. This is a positive change from Global Partners's previous quarterly dividend of $0.74. This represents a $2.98 annualized dividend and a dividend yield of 5.77%. The ex-dividend date was Friday, May 9th. Global Partners's dividend payout ratio (DPR) is presently 94.60%.

Hedge Funds Weigh In On Global Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC purchased a new position in Global Partners during the 2nd quarter worth approximately $178,723,000. Alps Advisors Inc. lifted its stake in Global Partners by 12.8% during the 1st quarter. Alps Advisors Inc. now owns 5,584,745 shares of the energy company's stock valued at $298,114,000 after acquiring an additional 635,126 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Global Partners by 14.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,849,454 shares of the energy company's stock valued at $98,724,000 after acquiring an additional 240,342 shares during the period. Raymond James Financial Inc. acquired a new stake in Global Partners during the 4th quarter valued at approximately $6,510,000. Finally, Pallas Capital Advisors LLC lifted its stake in Global Partners by 8.1% during the 1st quarter. Pallas Capital Advisors LLC now owns 1,601,904 shares of the energy company's stock valued at $85,510,000 after acquiring an additional 119,924 shares during the period. 38.12% of the stock is owned by hedge funds and other institutional investors.

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.