Beach Point Capital Management LP Has $5,373,000 Stake in StealthGas, Inc. (GASS)
Beach Point Capital Management LP maintained its position in shares of StealthGas, Inc. (NASDAQ:GASS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,653,194 shares of the shipping company’s stock at the end of the second quarter. StealthGas comprises about 1.3% of Beach Point Capital Management LP’s portfolio, making the stock its 16th largest position. Beach Point Capital Management LP’s holdings in StealthGas were worth $5,373,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new position in shares of StealthGas during the first quarter worth approximately $114,000. Gagnon Securities LLC boosted its position in shares of StealthGas by 9.8% in the second quarter. Gagnon Securities LLC now owns 155,524 shares of the shipping company’s stock worth $505,000 after buying an additional 13,839 shares in the last quarter. Towerview LLC boosted its position in shares of StealthGas by 33.3% in the second quarter. Towerview LLC now owns 200,000 shares of the shipping company’s stock worth $650,000 after buying an additional 50,000 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of StealthGas by 17.5% in the second quarter. Russell Investments Group Ltd. now owns 539,413 shares of the shipping company’s stock worth $1,754,000 after buying an additional 80,498 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of StealthGas by 6.7% in the first quarter. Parametric Portfolio Associates LLC now owns 678,402 shares of the shipping company’s stock worth $2,707,000 after buying an additional 42,867 shares in the last quarter. 63.04% of the stock is currently owned by hedge funds and other institutional investors.
StealthGas, Inc. (GASS) opened at 3.00 on Friday. StealthGas, Inc. has a 12 month low of $2.65 and a 12 month high of $4.78. The stock’s 50 day moving average price is $3.15 and its 200-day moving average price is $3.56. The stock’s market cap is $119.41 million.
StealthGas (NASDAQ:GASS) last released its quarterly earnings results on Thursday, May 25th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.07. The firm had revenue of $38.06 million for the quarter, compared to the consensus estimate of $33.30 million. StealthGas had a negative return on equity of 0.09% and a negative net margin of 4.41%. Analysts anticipate that StealthGas, Inc. will post $0.16 EPS for the current fiscal year.
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Separately, Zacks Investment Research cut StealthGas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 25th.
StealthGas Inc is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas.
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