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 the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $54.06, for a total value of $118,661.70. Following the transaction, the chief operating officer now owns 156,198 shares in the company, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 shares were sold at an average price of $54.00, for a total value of $594.00.

Global Partners Trading Down 0.5 %

NYSE:GLP opened at $53.29 on Thursday. The company has a market capitalization of $1.81 billion, a P/E ratio of 16.10 and a beta of 1.53. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00. The firm has a fifty day simple moving average of $55.32 and a 200-day simple moving average of $50.83.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.56%. This is a boost from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s payout ratio is currently 122.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GLP. US Bancorp DE boosted 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 valued at $66,000 after buying an additional 500 shares during the last quarter. Albert D Mason Inc. boosted its holdings in shares of Global Partners by 11.8% in the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after acquiring an additional 575 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Global Partners in the fourth quarter worth $288,000. XTX Topco Ltd purchased a new position in shares of Global Partners during the fourth quarter worth $302,000. Finally, SVB Wealth LLC acquired a new position in Global Partners during the fourth quarter valued at $330,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 report on Tuesday, March 4th.

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.