Short Interest in CrossAmerica Partners LP (NYSE:CAPL) Declines By 28.1%

CrossAmerica Partners LP (NYSE:CAPL) saw a large drop in short interest in September. As of September 15th, there was short interest totaling 35,600 shares, a drop of 28.1% from the August 31st total of 49,500 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 31,200 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 31,200 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

CAPL has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of CrossAmerica Partners in a research report on Wednesday. Wall Street Zen raised CrossAmerica Partners from a “hold” rating to a “buy” rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, CrossAmerica Partners currently has a consensus rating of “Hold”.

CrossAmerica Partners Price Performance

Shares of CrossAmerica Partners stock opened at $20.05 on Thursday. The business’s fifty day moving average price is $20.71 and its two-hundred day moving average price is $21.74. The company has a market capitalization of $764.31 million, a P/E ratio of 17.74 and a beta of 0.48. CrossAmerica Partners has a 1-year low of $19.50 and a 1-year high of $25.73.

CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.13). The business had revenue of $961.93 million for the quarter, compared to the consensus estimate of $793.52 million. CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. On average, research analysts expect that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

CrossAmerica Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 4th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.10 annualized dividend and a yield of 10.5%. CrossAmerica Partners’s payout ratio is presently 185.84%.

Insider Activity at CrossAmerica Partners

In other news, Director John B. Reilly III bought 2,706 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $20.01 per share, for a total transaction of $54,147.06. Following the transaction, the director owned 4,967,317 shares in the company, valued at $99,396,013.17. The trade was a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph V. Jr. Topper bought 2,706 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $20.01 per share, with a total value of $54,147.06. Following the transaction, the director owned 1,857,649 shares in the company, valued at approximately $37,171,556.49. This represents a 0.15% increase in their position. The disclosure for this purchase can be found here. 52.00% of the stock is currently owned by company insiders.

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently added to or reduced their stakes in CAPL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in CrossAmerica Partners by 4.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock valued at $12,774,000 after acquiring an additional 27,767 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in CrossAmerica Partners during the 1st quarter valued at $648,000. Acadian Asset Management LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter worth $535,000. Kestra Private Wealth Services LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter worth $388,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of CrossAmerica Partners by 50.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,596 shares of the oil and gas company’s stock worth $752,000 after buying an additional 10,269 shares in the last quarter. Institutional investors own 24.06% of the company’s stock.

About CrossAmerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.