Dorian LPG Ltd. (NYSE:LPG) Short Interest Up 5.9% in October

Dorian LPG Ltd. (NYSE:LPG) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,990,000 shares, an increase of 5.9% from the October 15th total of 1,880,000 shares. Approximately 5.9% of the shares of the company are sold short. Based on an average daily trading volume, of 782,400 shares, the short-interest ratio is presently 2.5 days.

Dorian LPG Trading Up 4.6 %

LPG traded up $1.72 during midday trading on Friday, hitting $39.09. The company’s stock had a trading volume of 1,152,865 shares, compared to its average volume of 914,200. Dorian LPG has a 52-week low of $15.81 and a 52-week high of $39.90. The firm has a 50-day moving average price of $31.37 and a two-hundred day moving average price of $27.24. The company has a current ratio of 2.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.59 billion, a P/E ratio of 6.17 and a beta of 1.12.

Dorian LPG Announces Dividend

The business also recently declared a Variable dividend, which was paid on Thursday, November 2nd. Investors of record on Friday, October 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, October 19th. Dorian LPG’s dividend payout ratio (DPR) is 47.39%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LPG. Jefferies Financial Group cut Dorian LPG from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, August 3rd. StockNews.com lowered shares of Dorian LPG from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Finally, Pareto Securities raised shares of Dorian LPG from a “hold” rating to a “buy” rating and upped their price objective for the company from $27.00 to $35.00 in a research note on Monday, October 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.58.

Insiders Place Their Bets

In other news, CFO Theodore B. Young sold 5,000 shares of Dorian LPG stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $36.40, for a total transaction of $182,000.00. Following the completion of the sale, the chief financial officer now directly owns 98,720 shares in the company, valued at approximately $3,593,408. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Dorian LPG news, insider Tim Truels Hansen sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $37.61, for a total transaction of $940,250.00. Following the completion of the transaction, the insider now directly owns 186,866 shares in the company, valued at approximately $7,028,030.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theodore B. Young sold 5,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $36.40, for a total transaction of $182,000.00. Following the completion of the sale, the chief financial officer now owns 98,720 shares in the company, valued at $3,593,408. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $1,267,900 over the last quarter. Company insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

Large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC grew its position in Dorian LPG by 1,249.9% during the third quarter. Penserra Capital Management LLC now owns 120,738 shares of the shipping company’s stock valued at $3,468,000 after acquiring an additional 111,794 shares during the period. Toroso Investments LLC purchased a new stake in shares of Dorian LPG during the 3rd quarter worth about $231,000. The Manufacturers Life Insurance Company increased its position in Dorian LPG by 33.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,366 shares of the shipping company’s stock worth $470,000 after purchasing an additional 4,131 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Dorian LPG in the third quarter valued at approximately $237,000. Finally, Royal Bank of Canada lifted its position in Dorian LPG by 122.5% during the third quarter. Royal Bank of Canada now owns 41,390 shares of the shipping company’s stock valued at $1,189,000 after buying an additional 22,789 shares in the last quarter. Hedge funds and other institutional investors own 64.01% 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 twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.