Virtu Financial LLC Invests $288,000 in Global Partners LP (NYSE:GLP)

Virtu Financial LLC bought a new stake in shares of Global Partners LP (NYSE:GLP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,180 shares of the energy company's stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in Global Partners by 4,555.0% during the fourth quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock valued at $270,863,000 after acquiring an additional 5,693,750 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Global Partners during the 4th quarter valued at about $6,510,000. JPMorgan Chase & Co. lifted its stake in shares of Global Partners by 9,171.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company's stock worth $3,281,000 after purchasing an additional 69,704 shares during the period. NBW Capital LLC purchased a new position in shares of Global Partners in the fourth quarter worth approximately $2,431,000. Finally, Infrastructure Capital Advisors LLC grew its position in Global Partners by 57.7% during the third quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company's stock valued at $6,572,000 after buying an additional 51,630 shares during the period. 38.12% of the stock is owned by institutional investors.

Global Partners Stock Performance

Shares of NYSE:GLP traded down $0.85 during mid-day trading on Tuesday, reaching $53.18. 42,815 shares of the company traded hands, compared to its average volume of 79,661. The company's 50 day moving average price is $55.42 and its 200-day moving average price is $51.11. The firm has a market cap of $1.81 billion, a PE ratio of 16.25 and a beta of 1.53. 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 current ratio of 1.14 and a quick ratio of 0.64.

Remove Ads

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a $0.74 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Global Partners's previous quarterly dividend of $0.73. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.57%. Global Partners's dividend payout ratio is 122.31%.

Insider Transactions at Global Partners

In related news, COO Mark Romaine sold 2,195 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $54.06, for a total transaction of $118,661.70. Following the completion of the sale, the chief operating officer now owns 156,198 shares in the company, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 41.50% of the company's stock.

Analyst Upgrades and Downgrades

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

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.