Dalton Investments LLC trimmed its position in shares of Dorian LPG Ltd. (NYSE:LPG) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 673,627 shares of the shipping company’s stock after selling 14,000 shares during the quarter. Dorian LPG makes up about 2.1% of Dalton Investments LLC’s investment portfolio, making the stock its 12th biggest position. Dalton Investments LLC owned 1.17% of Dorian LPG worth $4,594,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. American International Group Inc. grew its stake in Dorian LPG by 7.1% during the first quarter. American International Group Inc. now owns 14,921 shares of the shipping company’s stock worth $157,000 after buying an additional 987 shares during the last quarter. Voya Investment Management LLC grew its stake in Dorian LPG by 21.3% during the second quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock worth $129,000 after buying an additional 2,763 shares during the last quarter. Eagle Global Advisors LLC bought a new stake in Dorian LPG during the second quarter worth about $165,000. Seven Bridges Advisors LLC grew its stake in Dorian LPG by 48.5% during the second quarter. Seven Bridges Advisors LLC now owns 24,974 shares of the shipping company’s stock worth $204,000 after buying an additional 8,162 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Dorian LPG by 24.4% during the second quarter. Alliancebernstein L.P. now owns 29,100 shares of the shipping company’s stock worth $238,000 after buying an additional 5,700 shares during the last quarter. 45.04% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on LPG shares. DNB Markets cut shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. BidaskClub cut shares of Dorian LPG from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. ValuEngine raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $8.75.
Shares of Dorian LPG Ltd. (NYSE:LPG) traded down $0.15 during mid-day trading on Monday, hitting $7.97. 56,800 shares of the stock were exchanged, compared to its average volume of 200,821. Dorian LPG Ltd. has a 12 month low of $6.20 and a 12 month high of $12.50. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.
Dorian LPG (NYSE:LPG) last announced its earnings results on Friday, November 3rd. The shipping company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.02. Dorian LPG had a negative net margin of 7.30% and a negative return on equity of 4.06%. The company had revenue of $34.73 million for the quarter, compared to analyst estimates of $31.13 million. During the same period in the prior year, the business earned ($0.25) earnings per share. Dorian LPG’s quarterly revenue was up 3.3% on a year-over-year basis. research analysts predict that Dorian LPG Ltd. will post -0.64 EPS for the current year.
About Dorian LPG
Dorian LPG Ltd. is a holding company. The Company, through its subsidiaries, is focused on owning and operating very large gas carrier (VLGCs) in the liquefied petroleum gas (LPG) shipping industry. The Company is engaged in the transportation of LPG across the world through its ownership and operation of LPG tankers.
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