Arrowstreet Capital Limited Partnership bought a new position in Dorian LPG Ltd. (NYSE:LPG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 304,074 shares of the shipping company’s stock, valued at approximately $2,487,000. Arrowstreet Capital Limited Partnership owned 0.55% of Dorian LPG at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. American International Group Inc. increased its holdings in shares of Dorian LPG by 7.1% during the first quarter. American International Group Inc. now owns 14,921 shares of the shipping company’s stock valued at $157,000 after purchasing an additional 987 shares during the period. Voya Investment Management LLC boosted 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 valued at $129,000 after buying an additional 2,763 shares in the last quarter. Citadel Advisors LLC boosted its stake in Dorian LPG by 32.8% during the first quarter. Citadel Advisors LLC now owns 17,041 shares of the shipping company’s stock valued at $179,000 after buying an additional 4,208 shares in the last quarter. Eagle Global Advisors LLC bought a new position in Dorian LPG during the second quarter valued at about $165,000. Finally, Russell Investments Group Ltd. bought a new position in Dorian LPG during the first quarter valued at about $235,000. 45.50% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on LPG. DNB Markets cut Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised Dorian LPG from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine cut Dorian LPG from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. Finally, BidaskClub cut Dorian LPG from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Dorian LPG currently has an average rating of “Hold” and a consensus target price of $9.00.
Dorian LPG Ltd. (NYSE:LPG) traded down 1.45% during trading on Friday, hitting $7.48. The company had a trading volume of 240,174 shares. Dorian LPG Ltd. has a 12-month low of $5.63 and a 12-month high of $12.50. The company’s market capitalization is $404.49 million. The firm has a 50-day moving average of $7.50 and a 200 day moving average of $7.87.
Dorian LPG (NYSE:LPG) last released its quarterly earnings results on Monday, July 31st. The shipping company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). The business had revenue of $41.00 million during the quarter, compared to the consensus estimate of $37.65 million. Dorian LPG had a negative return on equity of 4.16% and a negative net margin of 4.33%. The company’s quarterly revenue was down 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. On average, equities research analysts forecast that Dorian LPG Ltd. will post ($0.50) earnings per share for the current year.
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Dorian LPG Company Profile
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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