Global Ship Lease (NYSE:GSL) Insider Sells $346,755.36 in Stock

Global Ship Lease, Inc. (NYSE:GSL) insider Georgios Giannopoulos sold 7,692 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $45.08, for a total transaction of $346,755.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Global Ship Lease Stock Down 1.8%

Shares of Global Ship Lease stock opened at $41.23 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.06 and a current ratio of 2.13. The stock has a market capitalization of $1.48 billion, a PE ratio of 3.96 and a beta of 0.98. Global Ship Lease, Inc. has a 52-week low of $27.81 and a 52-week high of $46.57. The company has a 50-day simple moving average of $44.40 and a two-hundred day simple moving average of $41.32.

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

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Friday, August 21st were issued a $0.6250 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Friday, August 21st. Global Ship Lease’s payout ratio is presently 24.04%.

Wall Street Analysts Forecast Growth

GSL has been the topic of several recent analyst reports. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Jefferies Financial Group lifted their target price on Global Ship Lease from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. B. Riley Financial boosted their price target on Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday. Finally, Wall Street Zen downgraded Global Ship Lease from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Global Ship Lease has an average rating of “Buy” and an average target price of $51.00.

Institutional Trading of Global Ship Lease

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of Global Ship Lease by 1.4% in the first quarter. NewEdge Advisors LLC now owns 21,269 shares of the shipping company’s stock worth $792,000 after acquiring an additional 296 shares during the period. Corient Private Wealth LP raised 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 valued at $579,000 after purchasing an additional 320 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Global Ship Lease by 49.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,579 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 522 shares during the last quarter. SHP Wealth Management bought a new position in Global Ship Lease during the fourth quarter valued at approximately $35,000. Finally, Parvin Asset Management LLC lifted its position in Global Ship Lease by 11.4% during the first quarter. Parvin Asset Management LLC now owns 19,905 shares of the shipping company’s stock valued at $741,000 after purchasing an additional 2,035 shares during the period. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease, Inc (NYSE:GSL) is a containership owner and charterer that provides maritime transportation capacity to liner companies. The company owns and manages a fleet of container vessels designed to transport manufactured goods, consumer products, industrial materials and other containerized cargo across international trade routes.

Global Ship Lease generally employs time-charter arrangements, under which its vessels are leased to container shipping companies for specified periods.