StealthGas Inc. (NASDAQ:GASS) major shareholder Opportunities Fund L. Glendon acquired 422,065 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were bought at an average price of $3.30 per share, for a total transaction of $1,392,814.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of NASDAQ GASS traded down $0.03 during midday trading on Thursday, hitting $3.44. The company’s stock had a trading volume of 61,600 shares, compared to its average volume of 66,665. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.02 and a current ratio of 1.07. StealthGas Inc. has a 12-month low of $2.73 and a 12-month high of $4.25. The company has a market cap of $135.53 million, a price-to-earnings ratio of 340.00 and a beta of 1.53.
StealthGas (NASDAQ:GASS) last issued its quarterly earnings results on Thursday, February 21st. The shipping company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). StealthGas had a positive return on equity of 0.03% and a negative net margin of 7.47%. The business had revenue of $34.02 million during the quarter, compared to analysts’ expectations of $35.61 million. Sell-side analysts predict that StealthGas Inc. will post 0.17 earnings per share for the current year.
Several brokerages have recently weighed in on GASS. Zacks Investment Research downgraded StealthGas from a “buy” rating to a “sell” rating in a report on Wednesday, February 27th. ValuEngine downgraded StealthGas from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Finally, Maxim Group reiterated a “buy” rating and issued a $6.00 price target on shares of StealthGas in a report on Friday, November 23rd.
Several hedge funds and other institutional investors have recently modified their holdings of GASS. Geode Capital Management LLC grew its stake in StealthGas by 71.5% in the fourth quarter. Geode Capital Management LLC now owns 29,544 shares of the shipping company’s stock worth $81,000 after purchasing an additional 12,321 shares in the last quarter. Millennium Management LLC bought a new stake in StealthGas during the 4th quarter valued at $41,000. BlackRock Inc. bought a new stake in StealthGas during the 4th quarter valued at $592,000. Towerview LLC boosted its position in StealthGas by 34.7% during the 4th quarter. Towerview LLC now owns 485,000 shares of the shipping company’s stock valued at $1,339,000 after acquiring an additional 125,000 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in StealthGas by 1.9% during the 3rd quarter. Renaissance Technologies LLC now owns 1,922,000 shares of the shipping company’s stock valued at $6,842,000 after acquiring an additional 35,312 shares in the last quarter. Hedge funds and other institutional investors own 60.39% of the company’s stock.
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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.
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