Glendon Capital Management LP Sells 1,023,008 Shares of StealthGas, Inc. $GASS

Glendon Capital Management LP decreased its position in shares of StealthGas, Inc. (NASDAQ:GASS) by 17.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,883,048 shares of the shipping company’s stock after selling 1,023,008 shares during the quarter. StealthGas comprises about 1.7% of Glendon Capital Management LP’s investment portfolio, making the stock its 9th largest holding. Glendon Capital Management LP owned about 13.14% of StealthGas worth $31,984,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Bank of America Corp DE lifted its position in StealthGas by 701.2% in the 4th quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock valued at $58,000 after purchasing an additional 8,982 shares during the last quarter. Nipun Capital L.P. bought a new stake in shares of StealthGas during the second quarter valued at approximately $90,000. Jane Street Group LLC bought a new stake in shares of StealthGas during the second quarter valued at approximately $91,000. TD Waterhouse Canada Inc. acquired a new position in shares of StealthGas during the second quarter worth approximately $103,000. Finally, R Squared Ltd grew its holdings in StealthGas by 19.2% in the 3rd quarter. R Squared Ltd now owns 19,648 shares of the shipping company’s stock worth $129,000 after buying an additional 3,168 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded StealthGas from a “hold” rating to a “buy” rating in a research report on Sunday, December 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

StealthGas Price Performance

StealthGas stock opened at $8.68 on Tuesday. StealthGas, Inc. has a 12-month low of $4.90 and a 12-month high of $9.32. The stock has a market capitalization of $322.55 million, a PE ratio of 5.17 and a beta of 0.22. The firm has a 50 day simple moving average of $7.80 and a 200-day simple moving average of $7.20.

StealthGas Profile

StealthGas Inc is an international shipping company specializing in the seaborne transportation of liquefied petroleum gases (LPG), including propane, butane and ammonia. The company operates a fleet of modern pressurized LPG carriers with capacities ranging from approximately 2,500 to 9,100 cubic meters, providing safe and efficient carriage of petrochemical gases worldwide.

Founded in 2005 and incorporated in the Republic of the Marshall Islands, StealthGas is headquartered in Athens, Greece, with additional commercial and operational offices in major shipping centers across Europe and Asia.