Insider Selling: Global Partners LP (NYSE:GLP) COO Sells $118,661.70 in Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,195 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $54.06, for a total value of $118,661.70. Following the completion of the transaction, the chief operating officer now owns 156,198 shares of the company’s stock, valued at approximately $8,444,063.88. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 24th, Mark Romaine sold 11 shares of Global Partners stock. The shares were sold at an average price of $54.00, for a total value of $594.00.

Global Partners Stock Up 1.3 %

Shares of GLP stock opened at $54.13 on Friday. Global Partners LP has a 52-week low of $37.00 and a 52-week high of $60.00. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 16.35 and a beta of 1.53. The firm’s 50-day moving average is $55.36 and its 200-day moving average is $50.85.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.47%. This is a boost from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, February 10th. Global Partners’s dividend payout ratio (DPR) is presently 122.31%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus downgraded shares of Global Partners from a “buy” rating to a “hold” rating and boosted their target price for the stock from $54.00 to $56.00 in a report on Tuesday, March 4th.

Hedge Funds Weigh In On Global Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC grew its holdings in Global Partners by 4,555.0% in the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock valued at $270,863,000 after buying an additional 5,693,750 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Global Partners during the fourth quarter worth approximately $6,510,000. JPMorgan Chase & Co. increased its stake in Global Partners by 9,171.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock worth $3,281,000 after acquiring an additional 69,704 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Global Partners by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,609,112 shares of the energy company’s stock valued at $74,904,000 after acquiring an additional 64,901 shares in the last quarter. Finally, NBW Capital LLC bought a new stake in shares of Global Partners during the 4th quarter valued at $2,431,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

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.