IFP Advisors Inc cut its holdings in shares of Dorian LPG Ltd. (NYSE:LPG – Free Report) by 92.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 729 shares of the shipping company’s stock after selling 9,235 shares during the quarter. IFP Advisors Inc’s holdings in Dorian LPG were worth $40,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in LPG. Arrowstreet Capital Limited Partnership purchased a new position in shares of Dorian LPG during the 1st quarter valued at approximately $11,929,000. Pacer Advisors Inc. grew its position in shares of Dorian LPG by 2,540.0% during the first quarter. Pacer Advisors Inc. now owns 190,446 shares of the shipping company’s stock worth $6,513,000 after buying an additional 183,232 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Dorian LPG by 227.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock worth $7,247,000 after buying an additional 149,787 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Dorian LPG by 117.5% in the first quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company’s stock worth $6,738,000 after buying an additional 106,428 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Dorian LPG by 76.6% in the first quarter. First Trust Advisors LP now owns 181,420 shares of the shipping company’s stock worth $6,205,000 after buying an additional 78,710 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.
Dorian LPG Stock Down 0.6%
NYSE:LPG opened at $54.36 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 7.20 and a beta of 0.57. Dorian LPG Ltd. has a one year low of $23.76 and a one year high of $59.97. The stock has a 50-day simple moving average of $54.27 and a 200 day simple moving average of $41.93.
Dorian LPG (NYSE:LPG – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.40. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%. The firm had revenue of $187.88 million for the quarter, compared to analysts’ expectations of $160.78 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Dorian LPG’s revenue for the quarter was up 123.1% compared to the same quarter last year.
Insider Transactions at Dorian LPG
In other news, COO Alexander Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $54.13, for a total value of $270,650.00. Following the completion of the transaction, the chief operating officer owned 95,836 shares in the company, valued at approximately $5,187,602.68. This trade represents a 4.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Theodore Young sold 11,919 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.50, for a total value of $649,585.50. Following the completion of the sale, the chief financial officer owned 107,794 shares of the company’s stock, valued at $5,874,773. This trade represents a 9.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 106,000 shares of company stock worth $5,455,849. 13.50% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on LPG. Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Finally, Wall Street Zen raised shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dorian LPG presently has an average rating of “Buy” and an average price target of $55.00.
Check Out Our Latest Stock Analysis on Dorian LPG
About Dorian LPG
Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.
Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.
Featured Articles
- Five stocks we like better than Dorian LPG
- Starbucks Says Its Turnaround Is Done—The Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Want to see what other hedge funds are holding LPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dorian LPG Ltd. (NYSE:LPG – Free Report).
Receive News & Ratings for Dorian LPG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorian LPG and related companies with MarketBeat.com's FREE daily email newsletter.
