Alliancebernstein L.P. held its position in Dorian LPG Ltd. (NYSE:LPG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,400 shares of the shipping company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in Dorian LPG were worth $246,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LPG. Dimensional Fund Advisors LP raised its position in Dorian LPG by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,032,415 shares of the shipping company’s stock worth $8,477,000 after buying an additional 75,733 shares in the last quarter. State Street Corp raised its position in Dorian LPG by 8.2% in the fourth quarter. State Street Corp now owns 351,876 shares of the shipping company’s stock worth $2,891,000 after buying an additional 26,556 shares in the last quarter. Prudential Financial Inc. raised its position in Dorian LPG by 37.0% in the first quarter. Prudential Financial Inc. now owns 199,400 shares of the shipping company’s stock worth $2,099,000 after buying an additional 53,800 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Dorian LPG during the first quarter worth $1,126,000. Finally, Parametric Portfolio Associates LLC raised its position in Dorian LPG by 177.1% in the first quarter. Parametric Portfolio Associates LLC now owns 91,434 shares of the shipping company’s stock worth $963,000 after buying an additional 58,440 shares in the last quarter. Institutional investors and hedge funds own 48.38% of the company’s stock.
Shares of Dorian LPG Ltd. (NYSE:LPG) traded up 1.05% on Wednesday, reaching $6.71. 8,822 shares of the company’s stock traded hands. The stock’s market cap is $362.85 million. Dorian LPG Ltd. has a 52-week low of $5.07 and a 52-week high of $12.50. The firm’s 50-day moving average is $7.68 and its 200-day moving average is $8.95.
Dorian LPG (NYSE:LPG) last posted its earnings results on Monday, July 31st. The shipping company reported ($0.16) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.16). The company had revenue of $41 million during the quarter, compared to analysts’ expectations of $37.65 million. Dorian LPG had a negative net margin of 4.33% and a negative return on equity of 4.16%. Dorian LPG’s quarterly revenue was down 17.6% on a year-over-year basis. During the same period last year, the company posted $0.06 earnings per share. Analysts anticipate that Dorian LPG Ltd. will post ($0.44) EPS for the current fiscal year.
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Several brokerages have commented on LPG. ValuEngine raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. BidaskClub downgraded shares of Dorian LPG from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Pareto Securities raised shares of Dorian LPG from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, June 12th. Zacks Investment Research downgraded shares of Dorian LPG from a “hold” rating to a “strong sell” rating in a report on Friday, May 12th. Finally, UBS AG set a $8.00 price target on shares of Dorian LPG and gave the company a “buy” rating in a report on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.00.
In related news, insider John C. Hadjipateras sold 250,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $7.55, for a total transaction of $1,887,500.00. Following the completion of the transaction, the insider now directly owns 2,037,020 shares of the company’s stock, valued at $15,379,501. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.50% of the company’s stock.
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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