Mark Romaine Sells 2,195 Shares of Global Partners LP (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 2,195 shares of the firm's stock in a transaction 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 sale, the chief operating officer now directly owns 156,198 shares of the company's stock, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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 transaction of $594.00.

Global Partners Trading Down 0.1 %

GLP traded down $0.06 during trading on Friday, hitting $54.03. The company's stock had a trading volume of 16,676 shares, compared to its average volume of 80,122. The stock has a market cap of $1.84 billion, a PE ratio of 16.32 and a beta of 1.53. The firm's 50 day moving average price is $55.40 and its 200-day moving average price is $50.98. Global Partners LP has a twelve month low of $37.00 and a twelve month 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.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were given a dividend of $0.74 per share. This is a positive change from Global Partners's previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend was Monday, February 10th. Global Partners's dividend payout ratio is currently 122.31%.

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Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Global Partners

Hedge funds have recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC raised its position in shares of Global Partners by 57.7% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company's stock worth $6,572,000 after purchasing an additional 51,630 shares during the period. Stifel Financial Corp lifted its stake in Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company's stock worth $1,478,000 after acquiring an additional 2,166 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 purchasing an additional 69,704 shares in the last quarter. Albert D Mason Inc. lifted its holdings in shares of Global Partners by 11.8% during the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock valued at $253,000 after buying an additional 575 shares during the last quarter. Finally, ING Groep NV acquired a new position in Global Partners in the fourth quarter worth approximately $1,536,000. Institutional investors and hedge funds own 38.12% of the company's stock.

Global Partners Company Profile

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.