Dorian LPG Ltd (LPG): $41.92
Market Cap: $1.70 billion
Enterprise Value: $2.35 billion
The very first thing we look for when considering the significance of an insider purchase is if the insider has a deep understanding of both the company and the industry in which the business operates. President and CEO John C. Hadjipateras of liquified petroleum gas transportation and shipping company Dorian LPG not only fits this criteria, but is part of a long lineage of shipping industry experts. Simply looking at the John C. Hadjipateras and Sons history page, it is evident that generation after generation of Hadjipateras has continued to build upon the Greek shipping business first established in the mid-1900s.
The John C. Hadjipateras and Sons company first expanded into the crude oil shipping business in 1959, adopting the name Dorian Hellas, and began to build up fleets of VLCCs (very large crude carriers). The CEO of Dorian (the fourth generation John C. Hadjipateras, great-grandson of the original John C. Hadjipateras) joined the family business in the 1960s, but by 2002, began to experiment with LPG transportation and VLGCs (very large gas carriers). By 2005, the company had sold all of its VLCCs and began to build up a fleet of VLGCs, and in 2013, Dorian LPG was officially incorporated.