Dorian LPG Ltd (NYSE:LPG) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 1,278,000 shares, a decrease of 12.0% from the May 30th total of 1,451,600 shares. Approximately 3.3% of the company’s stock are sold short. Based on an average daily volume of 306,800 shares, the days-to-cover ratio is currently 4.2 days.
NYSE:LPG traded down $0.09 during midday trading on Friday, reaching $9.60. The stock had a trading volume of 284,840 shares, compared to its average volume of 464,861. Dorian LPG has a 1-year low of $5.26 and a 1-year high of $10.06. The business has a fifty day moving average price of $8.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a market capitalization of $534.58 million, a PE ratio of -12.15 and a beta of 1.20.
Dorian LPG (NYSE:LPG) last posted its earnings results on Thursday, May 23rd. The shipping company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). Dorian LPG had a negative net margin of 32.24% and a negative return on equity of 4.65%. The firm had revenue of $34.47 million during the quarter, compared to analyst estimates of $37.43 million. As a group, equities research analysts expect that Dorian LPG will post -0.13 EPS for the current year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. ValuEngine upgraded shares of United Overseas Bank from a “sell” rating to a “hold” rating in a research note on Monday, June 17th. Finally, DNB Markets lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a research note on Friday, June 21st.
In related news, CFO Theodore B. Young sold 4,500 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $9.36, for a total value of $42,120.00. Following the transaction, the chief financial officer now directly owns 122,253 shares in the company, valued at approximately $1,144,288.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group Ltd Bw sold 422,517 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $8.83, for a total transaction of $3,730,825.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,119,054 shares of company stock worth $10,225,914. 26.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of LPG. Rhumbline Advisers grew its stake in Dorian LPG by 44.9% in the 4th quarter. Rhumbline Advisers now owns 39,109 shares of the shipping company’s stock valued at $228,000 after buying an additional 12,121 shares during the last quarter. BlackRock Inc. boosted its holdings in Dorian LPG by 2.2% in the 4th quarter. BlackRock Inc. now owns 1,794,563 shares of the shipping company’s stock valued at $10,462,000 after purchasing an additional 39,309 shares during the period. Bank of New York Mellon Corp boosted its holdings in Dorian LPG by 8.7% in the 4th quarter. Bank of New York Mellon Corp now owns 109,766 shares of the shipping company’s stock valued at $639,000 after purchasing an additional 8,803 shares during the period. Citigroup Inc. boosted its holdings in Dorian LPG by 131.5% in the 4th quarter. Citigroup Inc. now owns 22,702 shares of the shipping company’s stock valued at $132,000 after purchasing an additional 12,897 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Dorian LPG by 323.7% in the 4th quarter. GSA Capital Partners LLP now owns 43,716 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 33,399 shares during the period. Institutional investors and hedge funds own 53.99% of the company’s stock.
About Dorian LPG
Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates very large gas carriers (VLGCs). As of June 26, 2018, its fleet consisted of 22 VLGCs with carrying capacity of approximately 1.8 million cubic meters.
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