Global Ship Lease (NYSE:GSL) CEO Thomas Arthur Lister Sells 30,000 Shares

Global Ship Lease, Inc. (NYSE:GSL) CEO Thomas Arthur Lister sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $44.26, for a total value of $1,327,800.00. Following the transaction, the chief executive officer directly owned 15,934 shares in the company, valued at approximately $705,238.84. This represents a 65.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Global Ship Lease Stock Down 1.1%

Shares of NYSE GSL opened at $44.48 on Friday. Global Ship Lease, Inc. has a 1 year low of $27.28 and a 1 year high of $45.45. The firm’s 50-day moving average is $41.56 and its 200-day moving average is $39.80. The company has a current ratio of 2.13, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.60 billion, a PE ratio of 4.28 and a beta of 0.90.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. The business had revenue of $198.69 million during the quarter, compared to the consensus estimate of $186.85 million. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. Global Ship Lease’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.67 earnings per share. Equities analysts expect that Global Ship Lease, Inc. will post 9.62 EPS for the current year.

Global Ship Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, August 21st. Global Ship Lease’s dividend payout ratio (DPR) is currently 24.04%.

Wall Street Analysts Forecast Growth

GSL has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price target on Global Ship Lease from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen downgraded Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a report on Friday, July 17th. B. Riley Financial increased their price target on Global Ship Lease from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $51.00.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds have recently bought and sold shares of GSL. Corient Private Wealth LP boosted its holdings in shares of Global Ship Lease by 2.1% during the second quarter. Corient Private Wealth LP now owns 15,409 shares of the shipping company’s stock worth $579,000 after acquiring an additional 320 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of Global Ship Lease during the second quarter worth approximately $103,000. Secure Asset Management LLC bought a new position in shares of Global Ship Lease during the second quarter worth approximately $212,000. Navellier & Associates Inc. acquired a new stake in Global Ship Lease during the 2nd quarter worth approximately $1,857,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Global Ship Lease during the 2nd quarter worth approximately $4,210,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Company Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.