GasLog Partners LP Unit (NYSE:GLOP) Sees Significant Growth in Short Interest
GasLog Partners LP Unit (NYSE:GLOP) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,220,000 shares, a growth of 8.0% from the January 15th total of 1,130,000 shares. Approximately 3.8% of the company’s stock are sold short. Based on an average daily trading volume, of 325,100 shares, the short-interest ratio is presently 3.8 days.
A number of institutional investors and hedge funds have recently bought and sold shares of GLOP. Barclays PLC raised its holdings in GasLog Partners LP Unit by 10.3% in the third quarter. Barclays PLC now owns 7,382 shares of the shipping company’s stock valued at $140,000 after acquiring an additional 687 shares in the last quarter. Citigroup Inc. raised its holdings in shares of GasLog Partners LP Unit by 36.9% during the fourth quarter. Citigroup Inc. now owns 13,490 shares of the shipping company’s stock worth $211,000 after purchasing an additional 3,635 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of GasLog Partners LP Unit during the third quarter worth $340,000. Millennium Management LLC acquired a new stake in shares of GasLog Partners LP Unit during the third quarter worth $345,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of GasLog Partners LP Unit during the fourth quarter worth $347,000. 36.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on GLOP. B. Riley lowered shares of GasLog Partners LP Unit from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $7.00 in a report on Friday, February 7th. Jefferies Financial Group lowered shares of GasLog Partners LP Unit from a “buy” rating to a “hold” rating and set a $6.00 price target on the stock. in a research note on Thursday, February 6th. Zacks Investment Research lowered shares of GasLog Partners LP Unit from a “hold” rating to a “sell” rating in a research note on Monday, January 27th. Evercore ISI downgraded shares of GasLog Partners LP Unit from an “outperform” rating to an “underperform” rating and lowered their price objective for the stock from $24.00 to $11.00 in a research report on Thursday, January 23rd. Finally, TheStreet downgraded shares of GasLog Partners LP Unit from a “c” rating to a “d+” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.21.
GasLog Partners LP Unit (NYSE:GLOP) last announced its earnings results on Thursday, February 6th. The shipping company reported ($2.37) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($2.86). The firm had revenue of $96.51 million for the quarter, compared to analyst estimates of $96.73 million. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 EPS. Research analysts anticipate that GasLog Partners LP Unit will post 1.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 18th will be issued a $0.561 dividend. The ex-dividend date is Friday, February 14th. This is a boost from GasLog Partners LP Unit’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 50.43%.
GasLog Partners LP Unit Company Profile
GasLog Partners LP owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters. As of February 26, 2019, its fleet consists of 14 LNG carriers with an average carrying capacity of approximately 157,000 cubic meters. The company was founded in 2014 and is based in Monaco.
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