In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), World Point Terminals Lp (NYSE:WPT) reported that World Point Terminals, Inc. has picked up 22,908,514 of common stock as of 2017-04-04.
The acquisition brings the aggregate amount owned by World Point Terminals, Inc. to a total of 22,908,514 representing a 65.7% stake in the company.
For those not familiar with the company, World Point Terminals, LP owns, operates, develops and acquires liquid bulk storage terminals and other assets relating to the storage of petroleum products, including light refined products, heavy refined products and crude oil. The Company operates fee-based facilities located along the East Coast, Gulf Coast and Midwest regions of the United States. As of December 31, 2016, through its subsidiary, Center Point Terminal Company, LLC (Center Point), the Company owned and operated 15.6 million barrels of tankage at terminals, which are located in the East Coast, Gulf Coast and Midwest regions of the United States. The Company’s terminal facilities are located on waterways, providing ship or barge access for the movement of petroleum products, and have truck racks with loading logistics. Its terminal facilities also have rail or pipeline access.
A glance at World Point Terminals Lp (NYSE:WPT)’s key stats reveals a current market capitalization of 599.40 Million based on 34.86 Million shares outstanding and a price at last close of $17.12 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-06-17, Novelly picked up 10,000 at a purchase price of $15.10. This brings their total holding to 957,662 as of the date of the filing.
On the sell side, the most recent transaction saw Graziadio unload 2,541 shares at a sale price of $15.09. This brings their total holding to 3,334.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on World Point Terminals Lp (NYSE:WPT) as things move forward to see if its progress aligns with these transactions.
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