Glendon Capital Management Lp Buys 37,257 Shares of StealthGas Inc. (GASS) Stock

StealthGas Inc. (NASDAQ:GASS) major shareholder Glendon Capital Management Lp purchased 37,257 shares of StealthGas stock in a transaction on Tuesday, November 13th. The shares were acquired at an average cost of $3.49 per share, with a total value of $130,026.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 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 bought 12,214 shares of StealthGas stock. The shares were purchased at an average cost of $3.43 per share, with a total value of $41,894.02.
  • On Friday, November 9th, Glendon Capital Management Lp bought 18,914 shares of StealthGas stock. The shares were purchased at an average cost of $3.42 per share, with a total value of $64,685.88.
  • On Monday, November 5th, Glendon Capital Management Lp bought 5,000 shares of StealthGas stock. The shares were purchased 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 bought 23,200 shares of StealthGas stock. The shares were purchased 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 bought 18,696 shares of StealthGas stock. The shares were purchased 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 bought 40,300 shares of StealthGas stock. The shares were purchased 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 bought 92,000 shares of StealthGas stock. The shares were purchased 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 bought 680,093 shares of StealthGas stock. The shares were purchased 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 bought 783,329 shares of StealthGas stock. The shares were purchased at an average cost of $3.44 per share, with a total value of $2,694,651.76.

NASDAQ:GASS opened at $3.47 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 0.74. The company has a market cap of $139.91 million, a PE ratio of 39.00 and a beta of 1.27. StealthGas Inc. has a 1-year low of $3.25 and a 1-year high of $4.70.

StealthGas (NASDAQ:GASS) last issued its quarterly earnings results on Thursday, August 23rd. The shipping company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.01 by $0.07. The company had revenue of $43.38 million during the quarter, compared to analyst estimates of $37.32 million. StealthGas had a negative net margin of 4.80% and a positive return on equity of 0.60%. Analysts expect that StealthGas Inc. will post 0.16 earnings per share for the current fiscal year.

GASS has been the subject of several recent research reports. Zacks Investment Research raised shares of StealthGas from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 24th. ValuEngine lowered shares of StealthGas from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Finally, Maxim Group initiated coverage on shares of StealthGas in a report on Thursday, October 25th. They set a “buy” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $5.58.

A number of hedge funds and other institutional investors have recently modified their holdings of GASS. Acadian Asset Management LLC increased its holdings in StealthGas by 132.4% in the 2nd quarter. Acadian Asset Management LLC now owns 50,836 shares of the shipping company’s stock worth $202,000 after acquiring an additional 28,960 shares in the last quarter. Macquarie Group Ltd. increased its holdings in StealthGas by 26.4% in the 2nd quarter. Macquarie Group Ltd. now owns 68,157 shares of the shipping company’s stock worth $271,000 after acquiring an additional 14,240 shares in the last quarter. Towerview LLC increased its holdings in StealthGas by 10.8% in the 3rd quarter. Towerview LLC now owns 360,000 shares of the shipping company’s stock worth $1,282,000 after acquiring an additional 35,000 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in StealthGas by 1.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,654,026 shares of the shipping company’s stock worth $6,566,000 after acquiring an additional 22,868 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in StealthGas by 1.9% in the 3rd quarter. Renaissance Technologies LLC now owns 1,922,000 shares of the shipping company’s stock worth $6,842,000 after acquiring an additional 35,312 shares in the last quarter. 59.93% of the stock is owned by institutional investors.

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About StealthGas

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.

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