CrossAmerica Partners LP (NYSE:CAPL) director Thomas E. Kelso recently acquired additional units of the company, according to a new SEC filing. On May 16, 2024, Kelso purchased 500 Common Units at prices ranging from $19.510 to $19.530, with a weighted average price of $19.522 per unit. The total value of the transaction amounted to approximately $9,761.
This recent purchase increases Kelso's stake in the company to a total of 2,476 Common Units. The transaction was executed on the open market, reflecting a direct investment by the director into the company's equity.
CrossAmerica Partners LP, known for its wholesale distribution of petroleum and petroleum products, has seen its directors and executives actively participating in the company's stock transactions, which is often a point of interest for investors monitoring insider activities.
Investors and market watchers typically view insider purchases as a sign of confidence in the company's future prospects. However, it is important to note that such transactions could be influenced by a variety of factors and do not always predict future stock performance.
The details of the transaction were made public through the SEC's Form 4 filing, which provides transparency into the trading activities of the company's insiders. The disclosure is part of the regulatory requirements that ensure investors have access to pertinent information regarding the financial dealings of company executives and directors.
CrossAmerica Partners LP is headquartered in Allentown, Pennsylvania, and operates under the standard industrial classification of wholesale petroleum and petroleum products. The company's Common Units are traded on the New York Stock Exchange under the ticker symbol CAPL.
InvestingPro Insights
In light of the recent insider purchase by CrossAmerica Partners LP (NYSE:CAPL) director Thomas E. Kelso, investors may find additional context through real-time data and InvestingPro Tips. As of the latest metrics, CrossAmerica Partners has a market capitalization of approximately $748.65 million and trades at a P/E ratio of 18.64, suggesting a high earnings multiple compared to some industry peers.
One notable InvestingPro Tip is that the stock's Relative Strength Index (RSI) indicates it is in oversold territory, which could attract investors looking for potential buying opportunities. Additionally, CrossAmerica Partners pays a significant dividend to shareholders, with a compelling yield of 10.69% as of the last data point, which is particularly attractive for income-focused investors.
While the company's revenue has seen a decline of 13.02% over the last twelve months as of Q1 2024, it's important to recognize the company's consistent commitment to dividend payments, having maintained them for 12 consecutive years. This consistency is a testament to the company's dedication to returning value to its shareholders.
For those interested in a deeper analysis, InvestingPro offers numerous additional tips on CrossAmerica Partners LP, which can be accessed at https://www.investing.com/pro/CAPL. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to an array of advanced tools and insights to inform their investment decisions.
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