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

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,195 shares of Global Partners stock in a transaction on Friday, March 21st. The stock was sold at an average price of $54.06, for a total transaction of $118,661.70. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $54.00, for a total value of $594.00.

Global Partners Stock Performance

NYSE:GLP traded up $1.07 during trading hours on Tuesday, reaching $53.75. 46,190 shares of the company’s stock were exchanged, compared to its average volume of 75,654. 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 capitalization of $1.83 billion, a price-to-earnings ratio of 16.24 and a beta of 1.53. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $60.00. The company has a 50-day moving average of $55.17 and a 200 day moving average of $50.73.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s dividend payout ratio (DPR) is 122.31%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. United Capital Financial Advisors LLC increased its position in Global Partners by 1.5% during the 4th quarter. United Capital Financial Advisors LLC now owns 15,464 shares of the energy company’s stock worth $720,000 after purchasing an additional 226 shares during the period. US Bancorp DE raised its position in Global Partners by 54.1% in the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock worth $66,000 after acquiring an additional 500 shares in the last quarter. Albert D Mason Inc. boosted its position 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 worth $253,000 after purchasing an additional 575 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Global Partners by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after purchasing an additional 2,166 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Global Partners in the 4th quarter valued at about $288,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.