Insider Buying: StealthGas Inc. (GASS) Major Shareholder Purchases 680,093 Shares of Stock

StealthGas Inc. (NASDAQ:GASS) major shareholder Glendon Capital Management Lp bought 680,093 shares of the business’s stock in a transaction that occurred on Friday, October 12th. The shares were acquired at an average price of $3.44 per share, for a total transaction of $2,339,519.92. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Tuesday, October 16th, Glendon Capital Management Lp bought 783,329 shares of StealthGas stock. The shares were acquired at an average price of $3.44 per share, for a total transaction of $2,694,651.76.

GASS stock opened at $3.42 on Wednesday. StealthGas Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $4.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.90. The company has a market cap of $141.90 million, a P/E ratio of 24.43 and a beta of 1.56.

StealthGas (NASDAQ:GASS) last posted its quarterly earnings results on Thursday, August 23rd. The shipping company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.07. StealthGas had a positive return on equity of 0.60% and a negative net margin of 4.80%. The business had revenue of $43.38 million for the quarter, compared to the consensus estimate of $37.32 million. On average, equities research analysts forecast that StealthGas Inc. will post 0.16 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in StealthGas by 8.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,886,688 shares of the shipping company’s stock worth $7,490,000 after buying an additional 148,888 shares during the period. Massachusetts Financial Services Co. MA raised its stake in 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 worth $6,566,000 after buying an additional 22,868 shares during the period. Towerview LLC raised its stake in StealthGas by 24.0% during the 2nd quarter. Towerview LLC now owns 325,000 shares of the shipping company’s stock worth $1,290,000 after buying an additional 62,950 shares during the period. Macquarie Group Ltd. raised its stake in StealthGas by 26.4% during the 2nd quarter. Macquarie Group Ltd. now owns 68,157 shares of the shipping company’s stock worth $271,000 after buying an additional 14,240 shares during the period. Finally, Acadian Asset Management LLC raised its stake in StealthGas by 132.4% during the 2nd quarter. Acadian Asset Management LLC now owns 50,836 shares of the shipping company’s stock worth $202,000 after buying an additional 28,960 shares during the period. 59.65% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the company. ValuEngine lowered StealthGas from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Zacks Investment Research upgraded StealthGas from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Wednesday, October 10th.

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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