The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Global Partners LP shares valued at $263,300 were purchased by Global GP LLC on Nov 25 ’24. At $52.66 per share, Global GP LLC acquired 5,000 shares. The insider’s holdings grew to 298,307 shares worth approximately $16.33 million following the completion of this transaction.
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Also, Global GP LLC purchased 5,000 shares, netting a total of over 259,050 in proceeds. Following the buying of shares at $51.81 each, the insider now holds 288,307 shares.
Before that, Global GP LLC had added 5,000 shares to its account. In a trade valued at $254,500, the General Partner bought Global Partners LP shares for $50.90 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $16.06 million.
As published in a research note from Stifel on November 08, 2022, Global Partners LP [GLP] has been rated up from a Hold to a Buy and the price target has been revised to $35 from $28. Analysts at Barclays downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early August. As of March 24, 2020, Barclays has increased its “an Underweight” rating to a “an Equal weight” for GLP. Earlier on January 29, 2020, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for GLP stock which previously was a “a Neutral”.
Analyzing GLP Stock Performance
During the last five days, there has been a surge of approximately 8.29%. Over the course of the year, Global Partners LP shares have jumped approximately 29.40%. Shares of the company reached a 52-week high of $54.75 on 11/27/24 and a 52-week low of $37.00 on 08/14/24. A 50-day SMA is recorded $47.92, while a 200-day SMA reached $45.49. Nevertheless, trading volume fell to 58306.0 shares from 43200.0 shares the previous day.
Support And Resistance Levels for Global Partners LP (GLP)
According to the 24-hour chart, there is a support level at 53.73, which, if violated, would cause prices to drop to 52.71. In the upper region, resistance lies at 55.26. The next price resistance is at 55.77. RSI (Relative Strength Index) is 73.79 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.74, which suggests the price will increase in the coming days. Percent R is at 0.00%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
