Global Partners LP (NYSE:GLP) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 70,700 shares, a drop of 47.5% from the May 30th total of 134,700 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 80,000 shares, the short-interest ratio is currently 0.9 days.

Hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new stake in Global Partners in the first quarter worth about $99,000. Barclays PLC acquired a new stake in Global Partners in the fourth quarter worth about $116,000. HITE Hedge Asset Management LLC acquired a new stake in Global Partners in the first quarter worth about $215,000. Raymond James & Associates lifted its holdings in Global Partners by 4.3% in the fourth quarter. Raymond James & Associates now owns 13,285 shares of the energy company’s stock worth $217,000 after purchasing an additional 550 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in Global Partners by 11.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 20,090 shares of the energy company’s stock worth $327,000 after purchasing an additional 2,018 shares during the period. 39.49% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on GLP shares. ValuEngine raised shares of Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Barclays set a €45.00 ($52.33) target price on shares of Zalando and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Global Partners currently has a consensus rating of “Hold” and an average price target of $19.75.

Shares of GLP traded down $0.06 during midday trading on Friday, hitting $20.06. 89,258 shares of the stock traded hands, compared to its average volume of 72,956. Global Partners has a 1-year low of $13.63 and a 1-year high of $21.62. The company has a market capitalization of $685.10 million, a price-to-earnings ratio of 11.60 and a beta of 0.85. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.29 and a quick ratio of 0.70. The company’s 50 day simple moving average is $20.20.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Thursday, May 9th. The energy company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Global Partners had a net margin of 0.40% and a return on equity of 12.35%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.08 billion. As a group, equities analysts forecast that Global Partners will post 0.44 earnings per share for the current fiscal year.

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 in the New England states and New York.

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