Global Partners LP (NYSE:GLP) Short Interest Update

Global Partners LP (NYSE:GLP - Get Free Report) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 715,000 shares, a decrease of 5.2% from the October 31st total of 754,600 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average trading volume of 62,900 shares, the short-interest ratio is presently 11.4 days.

Global Partners Trading Up 1.6 %

Shares of Global Partners stock traded up $0.92 during mid-day trading on Tuesday, hitting $56.85. The stock had a trading volume of 43,372 shares, compared to its average volume of 96,531. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The firm has a market cap of $1.93 billion, a P/E ratio of 17.18 and a beta of 1.43. The firm has a 50-day moving average of $48.53 and a two-hundred day moving average of $45.37. Global Partners has a 12-month low of $36.16 and a 12-month high of $56.85.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a dividend of $0.73 per share. This is an increase from Global Partners's previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 5.14%. The ex-dividend date was Friday, November 8th. Global Partners's dividend payout ratio (DPR) is presently 88.22%.

Insiders Place Their Bets

In related news, insider Global Gp Llc purchased 4,800 shares of Global Partners stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $43.17 per share, for a total transaction of $207,216.00. Following the transaction, the insider now directly owns 243,981 shares in the company, valued at approximately $10,532,659.77. This trade represents a 2.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders bought 27,026 shares of company stock worth $1,168,390. Company insiders own 41.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the second quarter valued at about $41,000. Capital Performance Advisors LLP acquired a new position in Global Partners during the third quarter worth about $93,000. Spinnaker Trust acquired a new position in Global Partners during the second quarter worth about $203,000. Stratos Wealth Advisors LLC acquired a new position in Global Partners during the third quarter worth about $225,000. Finally, Albert D Mason Inc. raised its position in Global Partners by 6.6% during the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company's stock worth $222,000 after acquiring an additional 300 shares during the last quarter. 38.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their price objective on shares of Global Partners from $51.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th.

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.