Penbrook Management Lowers stake in Global Partners LP (GLP)

Global Partners LP (GLP) : Penbrook Management reduced its stake in Global Partners LP by 2.0% during the most recent quarter end. The investment management company now holds a total of 19,583 shares of Global Partners LP which is valued at $262,804 after selling 400 shares in Global Partners LP , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Global Partners LP makes up approximately 0.28% of Penbrook Management’s portfolio.

Global Partners LP opened for trading at $13.32 and hit $14.23 on the upside on Wednesday, eventually ending the session at $14, with a gain of 5.90% or 0.78 points. The heightened volatility saw the trading volume jump to 5,30,515 shares. Company has a market cap of $476 M.

Other Hedge Funds, Including , Raymond James Trust N.a. reduced its stake in GLP by selling 500 shares or 4.76% in the most recent quarter. The Hedge Fund company now holds 10,000 shares of GLP which is valued at $134,200. Global Partners LP makes up approx 0.01% of Raymond James Trust N.a.’s portfolio.Winslow Evans Crocker boosted its stake in GLP in the latest quarter, The investment management firm added 18,266 additional shares and now holds a total of 18,706 shares of Global Partners LP which is valued at $251,035. Global Partners LP makes up approx 0.07% of Winslow Evans Crocker’s portfolio.Youngs Advisory Group boosted its stake in GLP in the latest quarter, The investment management firm added 97 additional shares and now holds a total of 11,972 shares of Global Partners LP which is valued at $160,664. Global Partners LP makes up approx 0.13% of Youngs Advisory Group’s portfolio.Spirit Of America Management Corpny reduced its stake in GLP by selling 11,665 shares or 13.89% in the most recent quarter. The Hedge Fund company now holds 72,312 shares of GLP which is valued at $927,763. Global Partners LP makes up approx 0.17% of Spirit Of America Management Corpny’s portfolio. Simplex Trading sold out all of its stake in GLP during the most recent quarter. The investment firm sold 114 shares of GLP which is valued $1,463.

On the company’s financial health, Global Partners LP reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 29, 2016. Analyst had a consensus of $-0.09. The company had revenue of $2169.40 million for the quarter, compared to analysts expectations of $2687.70 million. The company’s revenue was down -38.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.93 EPS.

Many Wall Street Analysts have commented on Global Partners LP. Global Partners LP was Initiated by Stifel to “Hold” on Feb 23, 2016.

Global Partners LP is a midstream logistics and marketing company that engages in the purchasing selling and logistics of transporting petroleum and related products including domestic and Canadian crude oil gasoline and gasoline blendstocks distillates residual oil renewable fuels natural gas and propane. The Company operates through three segments: Wholesale Gasoline Distribution and Station Operations (GDSO) and Commercial. The Wholesale segment engages in the logistics of selling gathering storage and transportation of refined petroleum products renewable fuels crude oil and propane. The GDSO segment is engaged in gasoline distribution and station operations such as convenience store car wash and other ancillary sales. The Commercial segment includes sales and deliveries of unbranded gasoline home heating oil diesel kerosene residual oil bunker fuel and natural gas. The Company’s product brands include Global Diesel One and Heating Oil Plus.

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