Short Interest in Dorian LPG Ltd. (NYSE:LPG) Decreases By 50.8%

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,190,000 shares, a decrease of 50.8% from the March 15th total of 2,420,000 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average daily volume of 832,800 shares, the days-to-cover ratio is currently 1.4 days.

Dorian LPG Stock Performance

NYSE LPG traded down $0.51 during trading hours on Monday, reaching $20.22. The stock had a trading volume of 96,127 shares, compared to its average volume of 713,374. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.95 and a current ratio of 3.97. Dorian LPG has a 52-week low of $16.66 and a 52-week high of $51.66. The stock has a fifty day moving average of $21.18 and a 200 day moving average of $24.70. The stock has a market cap of $865.50 million, a P/E ratio of 5.15 and a beta of 0.67.

Dorian LPG (NYSE:LPG - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The shipping company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.35 by $0.08. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. During the same quarter last year, the firm earned $2.62 EPS. Sell-side analysts predict that Dorian LPG will post 2.6 earnings per share for the current year.

Dorian LPG Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, February 27th. Stockholders of record on Wednesday, February 5th were given a $0.70 dividend. The ex-dividend date was Wednesday, February 5th. Dorian LPG's dividend payout ratio (DPR) is presently 25.45%.

Insiders Place Their Bets

In related news, CEO John C. Hadjipateras purchased 12,500 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was bought at an average cost of $17.75 per share, for a total transaction of $221,875.00. Following the completion of the transaction, the chief executive officer now directly owns 1,824,386 shares in the company, valued at $32,382,851.50. This represents a 0.69 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 13.40% of the company's stock.

Institutional Trading of Dorian LPG

Several institutional investors and hedge funds have recently bought and sold shares of LPG. Beacon Capital Management LLC raised its holdings in shares of Dorian LPG by 61.1% in the 4th quarter. Beacon Capital Management LLC now owns 1,128 shares of the shipping company's stock valued at $27,000 after buying an additional 428 shares during the period. Franklin Resources Inc. increased its position in shares of Dorian LPG by 2.5% during the fourth quarter. Franklin Resources Inc. now owns 22,593 shares of the shipping company's stock worth $551,000 after purchasing an additional 545 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Dorian LPG by 3.8% in the 4th quarter. Voya Investment Management LLC now owns 15,791 shares of the shipping company's stock valued at $385,000 after purchasing an additional 572 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Dorian LPG by 3.3% in the first quarter. SummerHaven Investment Management LLC now owns 18,929 shares of the shipping company's stock valued at $423,000 after acquiring an additional 598 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Dorian LPG by 3.1% during the 4th quarter. Russell Investments Group Ltd. now owns 21,911 shares of the shipping company's stock worth $534,000 after purchasing an additional 657 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LPG. Jefferies Financial Group reiterated a "buy" rating and issued a $35.00 price target on shares of Dorian LPG in a report on Friday, January 31st. Pareto Securities raised shares of Dorian LPG to a "buy" rating in a research note on Tuesday, February 4th.

About Dorian LPG

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.