Dorian LPG Ltd. (LPG) Position Trimmed by Prudential Financial Inc.
Prudential Financial Inc. reduced its position in Dorian LPG Ltd. (NYSE:LPG) by 75.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,700 shares of the shipping company’s stock after selling 119,800 shares during the period. Prudential Financial Inc. owned about 0.07% of Dorian LPG worth $263,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP raised its holdings in Dorian LPG by 41.7% in the 2nd quarter. Royce & Associates LP now owns 1,044,831 shares of the shipping company’s stock worth $8,547,000 after acquiring an additional 307,597 shares during the last quarter. Private Management Group Inc. grew its position in Dorian LPG by 3.9% in the 2nd quarter. Private Management Group Inc. now owns 402,003 shares of the shipping company’s stock worth $3,288,000 after purchasing an additional 14,905 shares during the period. GSA Capital Partners LLP grew its position in Dorian LPG by 96.5% in the 2nd quarter. GSA Capital Partners LLP now owns 162,312 shares of the shipping company’s stock worth $1,328,000 after purchasing an additional 79,712 shares during the period. Voya Investment Management LLC grew its position in Dorian LPG by 21.3% in the 2nd quarter. Voya Investment Management LLC now owns 15,747 shares of the shipping company’s stock worth $129,000 after purchasing an additional 2,763 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Dorian LPG by 15.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,537,638 shares of the shipping company’s stock worth $12,578,000 after purchasing an additional 206,202 shares during the period. Institutional investors own 47.71% of the company’s stock.
In other Dorian LPG news, Director Christina Tan acquired 10,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was purchased at an average price of $7.00 per share, with a total value of $70,000.00. Following the transaction, the director now directly owns 39,475 shares in the company, valued at approximately $276,325. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 26.50% of the company’s stock.
Dorian LPG (NYSE:LPG) last posted its earnings results on Friday, November 3rd. The shipping company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Dorian LPG had a negative net margin of 7.30% and a negative return on equity of 4.06%. The business had revenue of $34.73 million during the quarter, compared to the consensus estimate of $31.13 million. During the same quarter in the previous year, the firm posted ($0.25) EPS. The firm’s revenue was up 3.3% on a year-over-year basis. sell-side analysts forecast that Dorian LPG Ltd. will post -0.66 earnings per share for the current year.
A number of research firms have commented on LPG. ValuEngine downgraded shares of Dorian LPG from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. DNB Markets downgraded shares of Dorian LPG from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research downgraded shares of Dorian LPG from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Dorian LPG presently has an average rating of “Hold” and a consensus price target of $8.75.
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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