Stratos Wealth Advisors LLC Makes New $225,000 Investment in Global Partners LP (NYSE:GLP)

Stratos Wealth Advisors LLC purchased a new position in Global Partners LP (NYSE:GLP) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 4,826 shares of the energy company’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Global Partners in the second quarter worth approximately $41,000. Spinnaker Trust bought a new position in shares of Global Partners in the second quarter valued at approximately $203,000. Albert D Mason Inc. lifted its holdings in shares of Global Partners by 6.6% in the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock valued at $222,000 after purchasing an additional 300 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Global Partners in the first quarter valued at approximately $374,000. Finally, Leo Wealth LLC lifted its holdings in shares of Global Partners by 45.0% in the first quarter. Leo Wealth LLC now owns 14,500 shares of the energy company’s stock valued at $647,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors own 38.12% of the company’s stock.

Global Partners Stock Up 2.9 %

GLP stock opened at $45.96 on Wednesday. Global Partners LP has a twelve month low of $29.21 and a twelve month high of $50.85. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 2.52. The stock’s 50 day moving average is $44.46 and its 200-day moving average is $44.53. The firm has a market capitalization of $1.56 billion, a PE ratio of 17.09 and a beta of 1.38.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 19.21% and a net margin of 0.71%. Sell-side analysts expect that Global Partners LP will post 3.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Global Partners news, insider Global Gp Llc purchased 2,400 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were acquired at an average cost of $41.88 per share, for a total transaction of $100,512.00. Following the completion of the acquisition, the insider now owns 196,681 shares of the company’s stock, valued at $8,237,000.28. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have acquired 43,226 shares of company stock worth $1,872,989. 41.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their target price on Global Partners from $50.00 to $51.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Global Partners 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.