Martin Midstream Partners L.P. (NASDAQ:MMLP) VP Acquires $64,125.00 in Stock
Martin Midstream Partners L.P. (NASDAQ:MMLP) VP Chris H. Booth acquired 9,500 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average price of $6.75 per share, with a total value of $64,125.00. Following the transaction, the vice president now owns 25,803 shares of the company’s stock, valued at $174,170.25. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
MMLP traded down $0.06 on Friday, hitting $6.60. The company had a trading volume of 17,373 shares, compared to its average volume of 283,765. The firm has a market cap of $256.74 million, a P/E ratio of -34.74, a P/E/G ratio of 6.24 and a beta of 1.09. Martin Midstream Partners L.P. has a 12-month low of $6.03 and a 12-month high of $14.55. The company has a current ratio of 0.36, a quick ratio of 0.22 and a debt-to-equity ratio of 2.31.
Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, April 24th. The pipeline company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.31). The company had revenue of $250.97 million during the quarter, compared to analysts’ expectations of $276.53 million. Martin Midstream Partners had a negative return on equity of 10.10% and a net margin of 2.78%. On average, research analysts forecast that Martin Midstream Partners L.P. will post 0.54 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisor Group Inc. lifted its stake in Martin Midstream Partners by 113.4% in the first quarter. Advisor Group Inc. now owns 3,652 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 1,941 shares during the last quarter. Jane Street Group LLC bought a new stake in Martin Midstream Partners in the fourth quarter worth about $109,000. Acadian Asset Management LLC bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $181,000. Sippican Capital Advisors bought a new stake in shares of Martin Midstream Partners during the first quarter valued at approximately $189,000. Finally, Barclays PLC raised its stake in shares of Martin Midstream Partners by 124.5% during the fourth quarter. Barclays PLC now owns 15,162 shares of the pipeline company’s stock valued at $156,000 after acquiring an additional 8,408 shares in the last quarter. 27.25% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on MMLP shares. BidaskClub upgraded Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday. ValuEngine lowered Martin Midstream Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. TheStreet lowered Martin Midstream Partners from a “c” rating to a “d+” rating in a research report on Thursday, April 25th. Finally, Zacks Investment Research lowered Martin Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Martin Midstream Partners has a consensus rating of “Hold” and an average price target of $15.33.
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Martin Midstream Partners Company Profile
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 19 marine shore-based terminal facilities and 14 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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