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

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,195 shares of Global Partners stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the sale, the chief operating officer now owns 156,198 shares of the company’s stock, valued at $8,444,063.88. The trade was a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mark Romaine also recently made the following trade(s):

• On Monday, March 24th, Mark Romaine sold 11 shares of Global Partners stock. The stock was sold at an average price of $54.00, for a total transaction of $594.00.

Global Partners Stock Performance

Shares of Global Partners stock opened at $53.29 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The stock’s fifty day moving average price is $55.32 and its 200-day moving average price is $50.83. The firm has a market cap of $1.81 billion, a P/E ratio of 16.10 and a beta of 1.53. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were issued a $0.74 dividend. The ex-dividend date was Monday, February 10th. This represents a $2.96 annualized dividend and a dividend yield of 5.56%. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s payout ratio is currently 122.31%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut Global Partners from a “buy” rating to a “hold” rating and increased their price objective for the stock from $54.00 to $56.00 in a research note on Tuesday, March 4th.

Hedge Funds Weigh In On Global Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Global Partners by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,609,112 shares of the energy company’s stock worth $74,904,000 after buying an additional 64,901 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Global Partners during the 4th quarter worth $1,029,000. United Capital Financial Advisors LLC boosted its position in Global Partners by 1.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 15,464 shares of the energy company’s stock valued at $720,000 after purchasing an additional 226 shares in the last quarter. XTX Topco Ltd purchased a new position in Global Partners in the fourth quarter valued at about $302,000. Finally, Raymond James Financial Inc. bought a new position in Global Partners in the fourth quarter worth about $6,510,000. 38.12% of the stock is currently owned by institutional investors.

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.