Short Interest in Dorian LPG Ltd. (NYSE:LPG) Declines By 29.5%

Key Points

• Dorian LPG Ltd. experienced a significant decline in short interest, dropping by 29.5% to 1,050,000 shares as of September 30th.
• The company's quarterly earnings report showed an EPS of $0.27, missing analysts' expectations of $0.61, alongside a revenue decrease of 26.3% year-over-year.
• CEO Alexander C. Hadjipateras sold 5,000 shares for approximately $161,900, representing a 5.29% reduction in his ownership of Dorian LPG stock.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 1,050,000 shares, a drop of 29.5% from the September 15th total of 1,490,000 shares. Approximately 2.9% of the company's stock are short sold. Based on an average trading volume of 568,500 shares, the days-to-cover ratio is currently 1.8 days. Based on an average trading volume of 568,500 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.9% of the company's stock are short sold.

Insider Transactions at Dorian LPG

In other Dorian LPG news, COO Alexander C. Hadjipateras sold 5,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.38, for a total transaction of $161,900.00. Following the sale, the chief operating officer owned 89,440 shares of the company's stock, valued at approximately $2,896,067.20. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of Dorian LPG by 616.4% during the first quarter. Intech Investment Management LLC now owns 125,142 shares of the shipping company's stock worth $2,796,000 after purchasing an additional 107,675 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Dorian LPG during the first quarter worth about $1,720,000. Millennium Management LLC increased its stake in shares of Dorian LPG by 3,728.9% during the first quarter. Millennium Management LLC now owns 997,470 shares of the shipping company's stock worth $22,283,000 after purchasing an additional 971,419 shares in the last quarter. Focus Partners Wealth increased its stake in shares of Dorian LPG by 18.3% during the first quarter. Focus Partners Wealth now owns 294,240 shares of the shipping company's stock worth $6,573,000 after purchasing an additional 45,590 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Dorian LPG by 4.8% during the first quarter. Arizona State Retirement System now owns 11,664 shares of the shipping company's stock worth $261,000 after purchasing an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

Dorian LPG Stock Performance

LPG traded up $0.90 on Thursday, reaching $28.19. 374,194 shares of the stock were exchanged, compared to its average volume of 683,716. The company's 50-day moving average price is $30.09 and its 200 day moving average price is $26.29. Dorian LPG has a fifty-two week low of $16.66 and a fifty-two week high of $32.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.32 and a quick ratio of 3.30. The firm has a market capitalization of $1.20 billion, a PE ratio of 24.51 and a beta of 0.77.

Dorian LPG (NYSE:LPG - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The shipping company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.34). Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The firm had revenue of $84.21 million for the quarter, compared to analyst estimates of $86.53 million. During the same period in the prior year, the firm posted $1.26 EPS. The business's revenue was down 26.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Dorian LPG will post 2.6 EPS for the current fiscal year.

Dorian LPG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.40 dividend on an annualized basis and a yield of 8.5%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research cut Dorian LPG from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Jefferies Financial Group increased their price objective on shares of Dorian LPG from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Dorian LPG in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Dorian LPG has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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