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Global Partners LP (NYSE:GLP) NASDAQ:GLP Chief Operating Officer Mark Romaine sold 9,000 shares of common units over two days for approximately $481,949. The company, currently valued at $1.76 billion with shares trading at $51.07, shows strong market performance with an 18.76% return over the past year. According to InvestingPro analysis, the stock appears fairly valued at current levels.
According to a Form 4 filing with the Securities and Exchange Commission, on June 24, 2025, Romaine sold 6,659 shares at a weighted average price of $54.26, in multiple transactions at prices ranging from $54.00 to $54.83. The total value of this transaction was $361326. On June 25, 2025, the COO sold an additional 2,341 shares at a weighted average price of $51.53, in multiple transactions at prices ranging from $51.35 to $51.82. The total value of this transaction was $120623. The stock currently offers an attractive 5.84% dividend yield and has maintained dividend payments for 20 consecutive years.
Following these transactions, Romaine directly owns 157,531 common units of Global Partners LP. The sales were executed pursuant to a 10b5-1 trading plan adopted on March 25, 2025.
In other recent news, Global Partners LP reported a strong first-quarter 2025 performance, with earnings per share (EPS) of $0.36, surpassing the forecasted loss of $0.05. Despite this positive earnings surprise, the company’s revenue of $4.59 billion fell short of the anticipated $5.65 billion. The company has also announced the pricing of $450 million in senior unsecured notes due 2033, with plans to use the proceeds to repurchase existing notes and reduce credit agreement borrowings. In another development, Moody’s Ratings upgraded Global Partners’ Corporate Family Rating to Ba3, citing strong operating performance and expanded geographic reach. This upgrade reflects the company’s increased scale and improved liquidity, despite the inherent risks of its business model. Additionally, Stifel analysts have adjusted the stock’s price target to $53.00 from $56.00, maintaining a Hold rating, following a colder winter that boosted distillate demand. The company’s strategic acquisitions and recent performance have significantly influenced this valuation. These developments underscore Global Partners’ proactive financial maneuvers and strategic growth initiatives in the current market landscape.
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