Short Interest in CrossAmerica Partners LP (NYSE:CAPL) Rises By 72.8%

Key Points

• Short interest in CrossAmerica Partners LP surged by 72.8% in September, reaching a total of 61,500 shares short sold, which is about 0.3% of total shares outstanding.
• The company reported a net loss of $0.07 EPS for the last quarter, missing the consensus estimate of $0.20, although revenues were strong at $961.93 million.
• CrossAmerica Partners has a dividend yield of 10.5%, with a quarterly dividend of $0.525 recently paid, and a high dividend payout ratio of 185.84%.

CrossAmerica Partners LP (NYSE:CAPL - Get Free Report) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 61,500 shares, a growth of 72.8% from the September 15th total of 35,600 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 32,100 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily trading volume, of 32,100 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CrossAmerica Partners in a report on Wednesday, October 8th. Wall Street Zen raised CrossAmerica Partners from a "hold" rating to a "buy" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold".

CrossAmerica Partners Trading Down 0.7%

Shares of NYSE CAPL traded down $0.15 during trading on Tuesday, reaching $20.00. The company had a trading volume of 9,728 shares, compared to its average volume of 27,963. CrossAmerica Partners has a twelve month low of $19.50 and a twelve month high of $25.73. The stock has a market capitalization of $762.21 million, a PE ratio of 17.69 and a beta of 0.48. The stock has a 50-day moving average price of $20.63 and a two-hundred day moving average price of $21.46.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its 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). The business had revenue of $961.93 million during the quarter, compared to analyst estimates of $793.52 million. CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. On average, sell-side analysts predict that CrossAmerica Partners will post 0.42 EPS for the current year.

CrossAmerica Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 4th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 10.5%. The ex-dividend date was Monday, August 4th. CrossAmerica Partners's dividend payout ratio is presently 185.84%.

Insider Activity at CrossAmerica Partners

In other CrossAmerica Partners news, Director Joseph V. Jr. Topper purchased 1,801 shares of CrossAmerica Partners stock in a transaction dated Friday, October 10th. The stock was acquired at an average cost of $19.74 per share, with a total value of $35,551.74. Following the acquisition, the director directly owned 1,859,450 shares of the company's stock, valued at $36,705,543. This represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Reilly III purchased 1,871 shares of CrossAmerica Partners stock in a transaction dated Friday, October 10th. The stock was acquired at an average cost of $19.74 per share, with a total value of $36,933.54. Following the completion of the acquisition, the director directly owned 4,969,188 shares in the company, valued at approximately $98,091,771.12. This trade represents a 0.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 9,084 shares of company stock valued at $180,779 over the last three months. Insiders own 52.00% of the company's stock.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CrossAmerica Partners by 4.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company's stock valued at $12,774,000 after acquiring an additional 27,767 shares during the period. Raymond James Financial Inc. grew its position in CrossAmerica Partners by 1.8% during the first quarter. Raymond James Financial Inc. now owns 288,932 shares of the oil and gas company's stock valued at $7,099,000 after acquiring an additional 5,060 shares during the period. Quadrant Private Wealth Management LLC grew its position in CrossAmerica Partners by 0.4% during the second quarter. Quadrant Private Wealth Management LLC now owns 165,991 shares of the oil and gas company's stock valued at $3,473,000 after acquiring an additional 729 shares during the period. Goldman Sachs Group Inc. grew its position in CrossAmerica Partners by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 39,040 shares of the oil and gas company's stock valued at $959,000 after acquiring an additional 1,375 shares during the period. Finally, GSA Capital Partners LLP grew its position in CrossAmerica Partners by 3.8% during the first quarter. GSA Capital Partners LLP now owns 37,806 shares of the oil and gas company's stock valued at $929,000 after acquiring an additional 1,397 shares during the period. 24.06% of the stock is currently owned by institutional investors and hedge funds.

CrossAmerica Partners Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.