Redwood Capital Management LLC Maintains Holdings in StealthGas, Inc. (GASS)
Redwood Capital Management LLC continued to hold its stake in shares of StealthGas, Inc. (NASDAQ:GASS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,415,287 shares of the shipping company’s stock at the end of the second quarter. StealthGas accounts for approximately 0.8% of Redwood Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Redwood Capital Management LLC owned about 6.07% of StealthGas worth $7,850,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Robotti Robert grew its stake in StealthGas by 4.9% in the second quarter. Robotti Robert now owns 857,344 shares of the shipping company’s stock worth $2,623,000 after purchasing an additional 39,659 shares in the last quarter. Royce & Associates LP grew its stake in StealthGas by 1.2% in the second quarter. Royce & Associates LP now owns 1,897,956 shares of the shipping company’s stock worth $6,168,000 after purchasing an additional 22,900 shares in the last quarter. Towerview LLC grew its stake in 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 purchasing an additional 50,000 shares in the last quarter. Russell Investments Group Ltd. grew its stake in 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 purchasing an additional 80,498 shares in the last quarter. Finally, Gagnon Securities LLC grew its stake in 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 purchasing an additional 13,839 shares in the last quarter. 67.87% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut StealthGas from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 25th.
Shares of StealthGas, Inc. (NASDAQ GASS) traded up 0.5633% on Friday, reaching $3.3387. The company had a trading volume of 7,250 shares. The company’s 50 day moving average price is $3.12 and its 200-day moving average price is $3.36. The stock’s market capitalization is $132.89 million. StealthGas, Inc. has a 1-year low of $2.65 and a 1-year high of $4.78.
StealthGas (NASDAQ:GASS) last announced its earnings results on Thursday, August 24th. The shipping company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $39.27 million for the quarter, compared to analyst estimates of $36.32 million. StealthGas had a positive return on equity of 0.44% and a negative net margin of 4.41%. Equities analysts predict that StealthGas, Inc. will post $0.16 EPS for the current year.
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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