Insider Buying: CrossAmerica Partners LP (CAPL) Director Acquires $427,582.31 in Stock
CrossAmerica Partners LP (NYSE:CAPL) Director Joseph V. Jr. Topper purchased 15,913 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average price of $26.87 per share, for a total transaction of $427,582.31. Following the acquisition, the director now directly owns 163,544 shares in the company, valued at approximately $4,394,427.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
CrossAmerica Partners LP (CAPL) opened at 27.62 on Friday. The stock’s 50 day moving average is $26.70 and its 200-day moving average is $25.72. The company’s market cap is $935.21 million. CrossAmerica Partners LP has a 12-month low of $23.26 and a 12-month high of $29.80.
CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Monday, August 7th. The oil and gas company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). CrossAmerica Partners had a return on equity of 4.11% and a net margin of 0.06%. The business had revenue of $528.79 million for the quarter, compared to analyst estimates of $596.92 million. Analysts predict that CrossAmerica Partners LP will post ($0.02) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Credit Suisse AG raised its position in CrossAmerica Partners by 6.8% during the first quarter. Credit Suisse AG now owns 23,954 shares of the oil and gas company’s stock worth $628,000 after acquiring an additional 1,523 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in CrossAmerica Partners by 12.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 308,286 shares of the oil and gas company’s stock worth $7,861,000 after acquiring an additional 35,106 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in CrossAmerica Partners during the first quarter worth $265,000. Advisors Capital Management LLC raised its position in CrossAmerica Partners by 5.3% during the second quarter. Advisors Capital Management LLC now owns 134,342 shares of the oil and gas company’s stock worth $3,426,000 after acquiring an additional 6,819 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in CrossAmerica Partners by 11.3% during the first quarter. OppenheimerFunds Inc. now owns 3,036,037 shares of the oil and gas company’s stock worth $79,483,000 after acquiring an additional 307,680 shares in the last quarter. 35.05% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on CAPL shares. Zacks Investment Research upgraded shares of CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, July 11th. BidaskClub downgraded shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Bank of America Corporation downgraded shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and raised their price target for the company from $28.00 to $30.00 in a report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. raised their price target on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $30.00.
About CrossAmerica Partners
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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