ING Groep NV lowered its position in shares of CrossAmerica Partners LP (NYSE:CAPL) by 50.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,636 shares of the company’s stock after selling 24,636 shares during the period. ING Groep NV’s holdings in CrossAmerica Partners were worth $606,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of CrossAmerica Partners by 3.9% in the first quarter. State Street Corp now owns 16,036 shares of the company’s stock valued at $390,000 after buying an additional 600 shares in the last quarter. Mountain Lake Investment Management LLC increased its stake in shares of CrossAmerica Partners by 2.0% in the first quarter. Mountain Lake Investment Management LLC now owns 575,000 shares of the company’s stock valued at $13,990,000 after buying an additional 11,500 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of CrossAmerica Partners by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,625,874 shares of the company’s stock valued at $39,558,000 after buying an additional 20,525 shares in the last quarter. Finally, Harvest Fund Advisors LLC increased its stake in shares of CrossAmerica Partners by 11.9% in the first quarter. Harvest Fund Advisors LLC now owns 3,039,506 shares of the company’s stock valued at $73,951,000 after buying an additional 323,235 shares in the last quarter. Hedge funds and other institutional investors own 35.86% of the company’s stock.
Shares of CrossAmerica Partners LP (NYSE:CAPL) traded down 0.19% during midday trading on Friday, hitting $25.75. The stock had a trading volume of 25,820 shares. The firm’s 50-day moving average price is $25.83 and its 200-day moving average price is $24.34. CrossAmerica Partners LP has a 1-year low of $17.39 and a 1-year high of $27.69. The stock has a market cap of $860.10 million, a price-to-earnings ratio of 49.90 and a beta of 1.39.
CrossAmerica Partners (NYSE:CAPL) last posted its earnings results on Friday, August 5th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.05. CrossAmerica Partners had a return on equity of 7.16% and a net margin of 0.94%. The business had revenue of $512.60 million for the quarter, compared to analysts’ expectations of $650.10 million. Analysts forecast that CrossAmerica Partners LP will post $0.33 earnings per share for the current year.
Several research firms have commented on CAPL. Janney Montgomery Scott reiterated a “buy” rating and issued a $27.00 target price on shares of CrossAmerica Partners in a research report on Thursday, June 23rd. Bank of America Corp. began coverage on CrossAmerica Partners in a research report on Wednesday, September 7th. They issued a “buy” rating and a $27.00 target price for the company. Zacks Investment Research downgraded CrossAmerica Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. FBR & Co began coverage on CrossAmerica Partners in a research report on Friday, September 9th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Robert W. Baird dropped their target price on CrossAmerica Partners from $36.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, August 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. CrossAmerica Partners presently has a consensus rating of “Buy” and a consensus price target of $28.14.
In other news, Director Joseph V. Jr. Topper purchased 25,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was purchased at an average price of $25.97 per share, with a total value of $649,250.00. Following the completion of the purchase, the director now directly owns 159,334 shares in the company, valued at approximately $4,137,903.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph V. Jr. Topper purchased 15,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were purchased at an average cost of $25.92 per share, with a total value of $388,800.00. Following the purchase, the director now owns 159,334 shares of the company’s stock, valued at $4,129,937.28. The disclosure for this purchase can be found here.
About CrossAmerica Partners
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The Company’s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee, Virginia, Illinois, Indiana and West Virginia.
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