Y Intercept Hong Kong Ltd decreased its stake in shares of Dorian LPG Ltd. (NYSE:LPG – Free Report) by 51.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,592 shares of the shipping company’s stock after selling 63,684 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Dorian LPG were worth $2,072,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Dorian LPG by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company’s stock worth $483,000 after acquiring an additional 914 shares in the last quarter. NewEdge Advisors LLC increased its stake in Dorian LPG by 1,003.8% in the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Dorian LPG by 50.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company’s stock valued at $3,977,000 after purchasing an additional 59,311 shares in the last quarter. Jane Street Group LLC increased its stake in Dorian LPG by 130.6% in the first quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock valued at $2,990,000 after purchasing an additional 75,818 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Dorian LPG by 12.7% during the second quarter. Cetera Investment Advisers now owns 13,613 shares of the shipping company’s stock valued at $332,000 after purchasing an additional 1,539 shares during the period. Institutional investors own 62.50% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on LPG shares. Wall Street Zen raised shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Freedom Capital downgraded Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Jefferies Financial Group upped their price target on Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Finally, Dnb Carnegie raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.00.
Insider Activity
In other Dorian LPG news, Director Ted Kalborg sold 15,373 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the sale, the director directly owned 66,348 shares of the company’s stock, valued at approximately $2,989,640.88. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.38, for a total value of $707,600.00. Following the completion of the sale, the insider directly owned 157,842 shares of the company’s stock, valued at approximately $5,584,449.96. This trade represents a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 13.60% of the stock is currently owned by company insiders.
Dorian LPG Stock Performance
LPG opened at $40.62 on Thursday. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average price is $40.70 and its two-hundred day moving average price is $34.81. Dorian LPG Ltd. has a 1-year low of $23.76 and a 1-year high of $48.12. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 8.93 and a beta of 0.66.
Dorian LPG (NYSE:LPG – Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.48. The firm had revenue of $153.27 million for the quarter, compared to analyst estimates of $128.87 million. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The business’s quarterly revenue was up 102.0% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share.
Dorian LPG Announces Dividend
The firm also recently declared a special dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a yield of 951.0%.
Dorian LPG Profile
Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.
Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.
The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.
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