Global Partners LP (NYSE:GLP) Short Interest Up 6.3% in September

Global Partners LP (NYSE:GLP - Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 738,500 shares, a growth of 6.3% from the September 15th total of 694,800 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily volume of 68,100 shares, the short-interest ratio is currently 10.8 days.

Insider Activity

In other Global Partners news, insider Global Gp Llc acquired 2,226 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average price of $44.71 per share, for a total transaction of $99,524.46. Following the completion of the transaction, the insider now owns 268,307 shares of the company's stock, valued at approximately $11,996,005.97. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 43,226 shares of company stock worth $1,872,989 in the last three months. Corporate insiders own 41.50% of the company's stock.

Institutional Investors Weigh In On Global Partners

Institutional investors have recently bought and sold shares of the stock. Granite Bay Wealth Management LLC lifted its position in Global Partners by 6,200.0% in the second quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company's stock valued at $14,541,000 after purchasing an additional 310,000 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Global Partners by 2.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company's stock valued at $1,548,000 after buying an additional 725 shares during the last quarter. Gilman Hill Asset Management LLC boosted its position in Global Partners by 17.8% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 31,461 shares of the energy company's stock valued at $1,436,000 after buying an additional 4,760 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Global Partners by 8.0% in the first quarter. Commonwealth Equity Services LLC now owns 27,510 shares of the energy company's stock valued at $1,221,000 after acquiring an additional 2,030 shares during the period. Finally, Sanders Morris Harris LLC purchased a new position in shares of Global Partners in the first quarter valued at about $732,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.

Global Partners Price Performance

GLP traded down $1.23 during midday trading on Thursday, hitting $46.77. The stock had a trading volume of 30,712 shares, compared to its average volume of 100,969. The company has a market cap of $1.59 billion, a P/E ratio of 17.39 and a beta of 1.38. Global Partners has a 1 year low of $29.21 and a 1 year high of $50.85. The business has a fifty day moving average of $44.02 and a 200 day moving average of $44.55. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.62 and a current ratio of 1.10.

Global Partners (NYSE:GLP - Get Free Report) last released its earnings results on Wednesday, August 7th. The energy company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.40). The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $5.51 billion. Global Partners had a net margin of 0.71% and a return on equity of 19.21%. As a group, equities analysts forecast that Global Partners will post 3.19 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were issued a $0.72 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.88 annualized dividend and a dividend yield of 6.16%. This is an increase from Global Partners's previous quarterly dividend of $0.71. Global Partners's payout ratio is currently 107.06%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their target price on Global Partners from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, August 9th.

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.