Global Partners LP (NYSE:GLP) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday, August 4th.
Several other equities analysts also recently issued reports on GLP. Zacks Investment Research downgraded shares of Global Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Janney Montgomery Scott initiated coverage on shares of Global Partners in a research note on Friday, June 23rd. They set a “neutral” rating and a $18.00 target price for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $21.00 target price on shares of Global Partners in a research note on Friday, June 23rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $18.40.
Shares of Global Partners (GLP) remained flat at $16.20 during trading on Friday. The company’s stock had a trading volume of 99,216 shares. The firm’s 50-day moving average is $17.62 and its 200-day moving average is $18.75. Global Partners has a 52-week low of $14.51 and a 52-week high of $21.95. The firm’s market cap is $543.57 million.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its position in Global Partners by 81.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 57,165 shares of the energy company’s stock valued at $1,052,000 after buying an additional 25,691 shares in the last quarter. Bank of Montreal Can purchased a new position in Global Partners during the second quarter valued at about $451,000. Goldman Sachs Group Inc. boosted its position in Global Partners by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 791,950 shares of the energy company’s stock valued at $15,443,000 after buying an additional 70,756 shares in the last quarter. Morgan Stanley boosted its position in Global Partners by 13.6% in the first quarter. Morgan Stanley now owns 2,859,113 shares of the energy company’s stock valued at $55,754,000 after buying an additional 341,554 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in Global Partners by 5.5% in the first quarter. Global X Management Co. LLC now owns 10,351 shares of the energy company’s stock valued at $202,000 after buying an additional 535 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.
Global Partners Company Profile
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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