Global Ship Lease (NYSE:GSL) CFO Anastasios Psaropoulos Sells 48,330 Shares

Global Ship Lease, Inc. (NYSE:GSL) CFO Anastasios Psaropoulos sold 48,330 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $45.02, for a total value of $2,175,816.60. Following the completion of the sale, the chief financial officer directly owned 68,698 shares in the company, valued at approximately $3,092,783.96. This represents a 41.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, August 26th, Anastasios Psaropoulos sold 1,670 shares of Global Ship Lease stock. The shares were sold at an average price of $45.03, for a total value of $75,200.10.

Global Ship Lease Trading Down 1.1%

Global Ship Lease stock opened at $44.48 on Friday. 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 business’s fifty day simple moving average is $41.56 and its two-hundred day simple moving average is $39.80. Global Ship Lease, Inc. has a 12 month low of $27.28 and a 12 month high of $45.45. The company has a market capitalization of $1.60 billion, a price-to-earnings 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 (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.06. The firm 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%.Global Ship Lease’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.67 EPS. As a group, equities analysts predict that Global Ship Lease, Inc. will post 9.62 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $2.50 annualized dividend and a yield of 5.6%. Global Ship Lease’s payout ratio is 24.04%.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently made changes to their positions in GSL. Sei Investments Co. boosted its holdings in shares of Global Ship Lease by 51.8% in the first quarter. Sei Investments Co. now owns 200,806 shares of the shipping company’s stock worth $7,476,000 after buying an additional 68,535 shares during the last quarter. Royal Palms Capital LLC purchased a new stake in Global Ship Lease during the fourth quarter valued at approximately $3,665,000. First Trust Advisors LP bought a new position in Global Ship Lease in the first quarter worth approximately $12,681,000. SG Americas Securities LLC raised its position in Global Ship Lease by 225.9% in the first quarter. SG Americas Securities LLC now owns 185,168 shares of the shipping company’s stock worth $6,894,000 after acquiring an additional 128,351 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Global Ship Lease by 65.5% during the 1st quarter. Lazard Asset Management LLC now owns 294,674 shares of the shipping company’s stock worth $10,971,000 after acquiring an additional 116,606 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Analysts Set New Price Targets

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

About Global Ship Lease

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.