Long Position on GLOG @ $25.32 on 8/4/2014 (Fundamentals)

GasLog Ltd. (GLOG) owns, operates, and manages vessels in the liquefied natural gas (LNG) market worldwide.

It provides maritime services for the transportation of LNG and LNG vessel management services.

As of April 10, 2014, the company’s fleet consisted of 18 wholly-owned LNG carriers. It also had 9 LNG carriers operating under its technical management for third parties. The company was incorporated in 2003 and is based in Monaco. 

Yesterday, the firm announced sale of about $84 million of bond. The offering was oversubscribed as investors were more than happy to lend their money to Gaslog. The firm annoucned purchase of three additonal LNG ships using the proceeds. 

Shares have pulled back to a support level, and prices are expected to move higher out of this formation.

52-Week Trading Range: $12.99 to $32.44

Entry Point: $25.32

Stop Loss: $23.95

Target Price: $27.85

Updates

9/4/2014 12:18:01 PM

GLOG fell below our stop loss. Closed at $23.85.

Position closed on 9/4/2014 at price of $23.85 with a -5.81% loss in 31 days.

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