Global X Management Co LLC Takes Position in Golar LNG Partners LP (GMLP)

Global X Management Co LLC purchased a new stake in Golar LNG Partners LP (NASDAQ:GMLP) during the second quarter, according to its most recent filing with the SEC. The firm purchased 449,428 shares of the shipping company’s stock, valued at approximately $6,948,000. Global X Management Co LLC owned 0.64% of Golar LNG Partners at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GMLP. BNP Paribas Arbitrage SA raised its position in shares of Golar LNG Partners by 58.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,810 shares of the shipping company’s stock valued at $202,000 after acquiring an additional 4,342 shares during the period. Wedbush Securities Inc. raised its position in shares of Golar LNG Partners by 28.4% in the 2nd quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock valued at $293,000 after acquiring an additional 4,181 shares during the period. Koch Industries Inc. raised its position in shares of Golar LNG Partners by 88.3% in the 1st quarter. Koch Industries Inc. now owns 19,774 shares of the shipping company’s stock valued at $338,000 after acquiring an additional 9,275 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Golar LNG Partners in the 2nd quarter valued at approximately $490,000. Finally, Wasatch Advisors Inc. raised its position in shares of Golar LNG Partners by 13.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 34,300 shares of the shipping company’s stock valued at $530,000 after acquiring an additional 4,000 shares during the period. Institutional investors and hedge funds own 39.95% of the company’s stock.

NASDAQ GMLP opened at $13.29 on Friday. Golar LNG Partners LP has a 52-week low of $12.71 and a 52-week high of $23.46. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.55 and a quick ratio of 0.54. The company has a market cap of $963.09 million, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.68 and a beta of 0.95.

Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Thursday, August 23rd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. Golar LNG Partners had a return on equity of 13.60% and a net margin of 26.85%. The business had revenue of $84.20 million during the quarter, compared to analysts’ expectations of $81.17 million. sell-side analysts expect that Golar LNG Partners LP will post 1.01 earnings per share for the current year.

A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of Golar LNG Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday. Citigroup cut their price target on shares of Golar LNG Partners from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 31st. ValuEngine upgraded shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Zacks Investment Research cut Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Finally, B. Riley lowered their target price on Golar LNG Partners from $23.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, June 8th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.86.

Golar LNG Partners Company Profile

Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.

Read More: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Golar LNG Partners (NASDAQ:GMLP)

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