StealthGas Inc. (GASS) Major Shareholder Acquires $64,685.88 in Stock

StealthGas Inc. (NASDAQ:GASS) major shareholder Glendon Capital Management Lp purchased 18,914 shares of StealthGas stock in a transaction dated Friday, November 9th. The shares were acquired at an average cost of $3.42 per share, with a total value of $64,685.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Glendon Capital Management Lp also recently made the following trade(s):

  • On Wednesday, November 7th, Glendon Capital Management Lp purchased 12,214 shares of StealthGas stock. The shares were acquired at an average cost of $3.43 per share, with a total value of $41,894.02.
  • On Monday, November 5th, Glendon Capital Management Lp purchased 5,000 shares of StealthGas stock. The shares were acquired at an average cost of $3.42 per share, with a total value of $17,100.00.
  • On Tuesday, October 30th, Glendon Capital Management Lp purchased 23,200 shares of StealthGas stock. The shares were acquired at an average cost of $3.36 per share, with a total value of $77,952.00.
  • On Thursday, October 25th, Glendon Capital Management Lp purchased 18,696 shares of StealthGas stock. The shares were acquired at an average cost of $3.45 per share, with a total value of $64,501.20.
  • On Friday, October 19th, Glendon Capital Management Lp purchased 40,300 shares of StealthGas stock. The shares were acquired at an average cost of $3.47 per share, with a total value of $139,841.00.
  • On Tuesday, October 23rd, Glendon Capital Management Lp purchased 92,000 shares of StealthGas stock. The shares were acquired at an average cost of $3.48 per share, with a total value of $320,160.00.
  • On Friday, October 12th, Glendon Capital Management Lp purchased 680,093 shares of StealthGas stock. The shares were acquired at an average cost of $3.44 per share, with a total value of $2,339,519.92.
  • On Tuesday, October 16th, Glendon Capital Management Lp purchased 783,329 shares of StealthGas stock. The shares were acquired at an average cost of $3.44 per share, with a total value of $2,694,651.76.

Shares of NASDAQ GASS traded down $0.05 during midday trading on Friday, hitting $3.41. 33,374 shares of the company’s stock traded hands, compared to its average volume of 52,485. The firm has a market capitalization of $134.33 million, a P/E ratio of 24.36 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.74. StealthGas Inc. has a 1 year low of $3.25 and a 1 year high of $4.70.

StealthGas (NASDAQ:GASS) last announced its quarterly earnings data on Thursday, August 23rd. The shipping company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.07. The company had revenue of $43.38 million during the quarter, compared to the consensus estimate of $37.32 million. StealthGas had a positive return on equity of 0.60% and a negative net margin of 4.80%. As a group, equities research analysts anticipate that StealthGas Inc. will post 0.16 EPS for the current year.

Several equities research analysts have recently commented on GASS shares. Maxim Group started coverage on shares of StealthGas in a research report on Thursday, October 25th. They set a “buy” rating and a $6.00 price target for the company. Zacks Investment Research raised shares of StealthGas from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research report on Wednesday, October 10th. Finally, ValuEngine raised shares of StealthGas from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $5.58.

Several large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its stake in shares of StealthGas by 3.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,382,724 shares of the shipping company’s stock valued at $8,483,000 after acquiring an additional 87,910 shares during the period. Renaissance Technologies LLC grew its stake in shares of StealthGas by 8.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,886,688 shares of the shipping company’s stock valued at $7,490,000 after acquiring an additional 148,888 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of StealthGas by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,654,026 shares of the shipping company’s stock valued at $6,566,000 after acquiring an additional 22,868 shares during the period. Towerview LLC grew its stake in shares of StealthGas by 10.8% during the 3rd quarter. Towerview LLC now owns 360,000 shares of the shipping company’s stock valued at $1,282,000 after acquiring an additional 35,000 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of StealthGas by 26.4% during the 2nd quarter. Macquarie Group Ltd. now owns 68,157 shares of the shipping company’s stock valued at $271,000 after acquiring an additional 14,240 shares during the period. Institutional investors own 59.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “StealthGas Inc. (GASS) Major Shareholder Acquires $64,685.88 in Stock” was first published by WKRB News and is the sole property of of WKRB News. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.wkrb13.com/2018/11/10/stealthgas-inc-gass-major-shareholder-acquires-64685-88-in-stock.html.

StealthGas Company Profile

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.

Further Reading: Day Trading – Risk Worth the Reward?

Insider Buying and Selling by Quarter for StealthGas (NASDAQ:GASS)

Receive News & Ratings for StealthGas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StealthGas and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply