Following The Money: Institution’s Growing Stake In Global Partners LP (NYSE: GLP)

Global Partners LP (GLP) concluded trading on Thursday at a closing price of $47.21, with 2.52 million shares of worth about $118.76 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 52.93% during that period and on Thursday the price saw a gain of about 5.95%. Currently the company’s common shares owned by public are about 33.94M shares, out of which, 29.06M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 8 times over the past 12 months. They bought 56,215 shares in 7 of the transactions. In 1 selling transactions, insiders dumped 400 shares.

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However, the stock later moved at a day high price of 47.50, or with a gain of 5.95%. Stock saw a price change of 3.42% in past 5 days and over the past one month there was a price change of 12.19%. Year-to-date (YTD), GLP shares are showing a performance of 11.58% which increased to 29.63% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $27.07 but also hit the highest price of $48.38 during that period. The average intraday trading volume for Global Partners LP shares is 288.86K. The stock is currently trading 5.24% above its 20-day simple moving average (SMA20), while that difference is up 13.34% for SMA50 and it goes to 38.97% higher than SMA200.

Global Partners LP (NYSE: GLP) currently have 33.94M outstanding shares and institutions hold larger chunk of about 37.12% of that.

The stock has a current market capitalization of $1.61B and its 3Y-monthly beta is at 1.37. PE ratio of stock for trailing 12 months is 12.15, while it has posted earnings per share of $3.89 in the same period. It has Quick Ratio of 0.71 while making debt-to-equity ratio of 1.69. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GLP, volatility over the week remained 5.33% while standing at 3.99% over the month.

Analysts are in expectations that Global Partners LP (GLP) stock would likely to be making an EPS of $SPDR Gold Trust in the current quarter, while forecast for next quarter EPS is $188.33 and it is $ETF for next year. For the current quarter EPS, analysts have given the company a lowest target $Corning Incorporated which is $SPDR Select Sector Fund – Consu at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Global Partners LP in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -67.07% while it is estimated to increase by 17.88% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on November 08, 2022 offering a Buy rating for the stock and assigned a target price range of between $28 and $35 to it.

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