Perennial Advisors LLC grew its stake in shares of Dorian LPG Ltd (NYSE:LPG) by 1,092.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,341 shares of the shipping company’s stock after purchasing an additional 21,383 shares during the quarter. Perennial Advisors LLC’s holdings in Dorian LPG were worth $150,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in Dorian LPG by 97.1% in the first quarter. BNP Paribas Arbitrage SA now owns 6,103 shares of the shipping company’s stock worth $39,000 after acquiring an additional 3,007 shares during the period. Mackenzie Financial Corp raised its holdings in Dorian LPG by 72.9% in the fourth quarter. Mackenzie Financial Corp now owns 19,100 shares of the shipping company’s stock worth $111,000 after purchasing an additional 8,050 shares in the last quarter. Bank of America Corp DE raised its holdings in Dorian LPG by 56.1% in the fourth quarter. Bank of America Corp DE now owns 19,717 shares of the shipping company’s stock worth $115,000 after purchasing an additional 7,082 shares in the last quarter. Citigroup Inc. raised its holdings in Dorian LPG by 131.5% in the fourth quarter. Citigroup Inc. now owns 22,702 shares of the shipping company’s stock worth $132,000 after purchasing an additional 12,897 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Dorian LPG by 44.9% in the fourth quarter. Rhumbline Advisers now owns 39,109 shares of the shipping company’s stock worth $228,000 after purchasing an additional 12,121 shares in the last quarter. 54.92% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:LPG traded up $0.62 on Friday, hitting $7.41. 438,900 shares of the company traded hands, compared to its average volume of 183,003. Dorian LPG Ltd has a 52 week low of $5.26 and a 52 week high of $8.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.17 and a quick ratio of 1.14. The company has a market capitalization of $374.67 million, a PE ratio of -11.95 and a beta of 0.99.
Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Thursday, May 23rd. The shipping company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). Dorian LPG had a negative net margin of 23.65% and a negative return on equity of 4.35%. The company had revenue of $34.47 million for the quarter, compared to the consensus estimate of $37.43 million. On average, sell-side analysts anticipate that Dorian LPG Ltd will post -0.73 earnings per share for the current fiscal year.
In other news, CEO John C. Hadjipateras acquired 20,000 shares of Dorian LPG stock in a transaction on Friday, March 29th. The shares were acquired at an average price of $6.43 per share, with a total value of $128,600.00. Following the purchase, the chief executive officer now directly owns 1,924,678 shares in the company, valued at approximately $12,375,679.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John C. Hadjipateras acquired 7,500 shares of Dorian LPG stock in a transaction on Friday, April 5th. The stock was purchased at an average cost of $7.73 per share, for a total transaction of $57,975.00. Following the purchase, the insider now owns 141,994 shares in the company, valued at $1,097,613.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 32,500 shares of company stock worth $215,825. Insiders own 26.40% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Dorian LPG from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine upgraded Dorian LPG from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, DNB Markets upgraded Dorian LPG from a “hold” rating to a “buy” rating in a report on Friday, February 8th.
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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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