Global Ship Lease (NYSE:GSL) CFO Sells $75,200.10 in Stock

Global Ship Lease, Inc. (NYSE:GSL) CFO Anastasios Psaropoulos sold 1,670 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $45.03, for a total transaction of $75,200.10. Following the sale, the chief financial officer directly owned 117,028 shares of the company’s stock, valued at $5,269,770.84. The trade was a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Anastasios Psaropoulos also recently made the following trade(s):

• On Thursday, August 27th, Anastasios Psaropoulos sold 48,330 shares of Global Ship Lease stock. The shares were sold at an average price of $45.02, for a total transaction of $2,175,816.60.

Global Ship Lease Stock Down 0.1%

Shares of NYSE:GSL opened at $44.48 on Monday. 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 $27.28 and a 1 year high of $45.45. The company has a market cap of $1.60 billion, a PE ratio of 4.28 and a beta of 0.90. The stock’s 50-day moving average is $41.56 and its 200 day moving average is $39.82.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. The company had revenue of $198.69 million during the quarter, compared to analyst estimates of $186.85 million. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.67 earnings per share. Sell-side analysts anticipate 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. Investors of record on Friday, August 21st will be paid a $0.625 dividend. The ex-dividend date is Friday, August 21st. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. Global Ship Lease’s dividend payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

GSL has been the topic of a number of recent research reports. Wall Street Zen cut Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. Jefferies Financial Group increased their price objective on shares of Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Zacks Research raised shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, B. Riley Financial increased their price target on shares of Global Ship Lease from $48.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $51.00.

Institutional Trading of Global Ship Lease

A number of large investors have recently made changes to their positions in GSL. Triumph Capital Management purchased a new position in shares of Global Ship Lease during the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Global Ship Lease during the 4th quarter valued at $29,000. SHP Wealth Management purchased a new stake in Global Ship Lease during the 4th quarter valued at $35,000. Hilton Head Capital Partners LLC bought a new position in shares of Global Ship Lease during the 4th quarter valued at $35,000. Finally, Strengthening Families & Communities LLC bought a new position in shares of Global Ship Lease during the 4th quarter valued at $55,000. 50.08% of the stock is currently owned by institutional investors.

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.