Global Ship Lease, Inc. $GSL Stock Holdings Raised by Point Nemo Capital LLC

Point Nemo Capital LLC grew its position in Global Ship Lease, Inc. (NYSE:GSL) by 6,577.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 32,386 shares of the shipping company’s stock after acquiring an additional 31,901 shares during the quarter. Point Nemo Capital LLC’s holdings in Global Ship Lease were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Donald Smith & CO. Inc. purchased a new position in shares of Global Ship Lease during the second quarter worth approximately $27,859,000. First Trust Advisors LP purchased a new stake in Global Ship Lease in the 1st quarter valued at $12,681,000. Lazard Asset Management LLC raised its position in Global Ship Lease by 65.5% in the 1st quarter. Lazard Asset Management LLC now owns 294,674 shares of the shipping company’s stock valued at $10,971,000 after purchasing an additional 116,606 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Global Ship Lease in the 1st quarter valued at $10,790,000. Finally, Sei Investments Co. boosted its stake in Global Ship Lease by 51.8% during the 1st quarter. Sei Investments Co. now owns 200,806 shares of the shipping company’s stock worth $7,476,000 after purchasing an additional 68,535 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Global Ship Lease

In other Global Ship Lease news, Director Ulrike Helfer sold 4,000 shares of Global Ship Lease stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $44.82, for a total value of $179,280.00. Following the transaction, the director owned 8,503 shares in the company, valued at $381,104.46. This trade represents a 31.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Lister sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $44.26, for a total transaction of $1,327,800.00. Following the sale, the chief executive officer directly owned 15,934 shares of the company’s stock, valued at $705,238.84. This represents a 65.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 91,692 shares of company stock worth $4,104,852. Company insiders own 7.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GSL. Jefferies Financial Group raised their price objective on shares of Global Ship Lease from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday, October 15th. B. Riley Financial upped their price objective on shares of Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Global Ship Lease has an average rating of “Buy” and an average target price of $51.00.

Global Ship Lease Trading Up 1.0%

Shares of GSL stock opened at $39.05 on Friday. The firm’s 50-day simple moving average is $43.71 and its 200-day simple moving average is $40.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.13 and a quick ratio of 2.06. Global Ship Lease, Inc. has a 1-year low of $31.26 and a 1-year high of $46.57. The firm has a market cap of $1.40 billion, a P/E ratio of 3.76 and a beta of 1.03.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $186.85 million. During the same period in the previous year, the firm earned $2.67 earnings per share. Global Ship Lease’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that Global Ship Lease, Inc. will post 9.62 EPS for the current year.

Global Ship Lease Company Profile

Global Ship Lease, Inc (NYSE:GSL) is a containership owner and chartering company. It owns and manages a fleet of mid-sized and smaller containerships, which are vessels designed to transport containerized cargo such as manufactured goods, consumer products and industrial materials.

The company primarily generates revenue by chartering its vessels to container shipping companies under fixed-rate time charter agreements. Its customers operate liner services that connect major ports and trade routes worldwide, allowing Global Ship Lease to participate in global seaborne commerce while its charterers manage cargo transportation and logistics.

Global Ship Lease was founded in 2007 and completed its initial public offering in 2008.