Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) CFO Anastasios Psaropoulos sold 1,670 shares of Global Ship Lease stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 117,028 shares of the company's stock, valued at $5,269,770.84. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
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 value of $2,175,816.60.
Global Ship Lease Stock Down 1.1%
GSL stock opened at $44.48 on Friday. The stock has a 50-day simple moving average of $41.56 and a two-hundred day simple moving average of $39.80. Global Ship Lease, Inc. has a twelve month low of $27.28 and a twelve month high of $45.45. The firm has a market capitalization of $1.60 billion, a PE ratio of 4.28 and a beta of 0.90. The company has a quick ratio of 2.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.27.
Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. The company had revenue of $198.69 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.67 earnings per share. On average, equities analysts predict that Global Ship Lease, Inc. will post 9.62 EPS for the current fiscal year.
Global Ship Lease Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be paid a dividend of $0.625 per share. 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 dividend payout ratio (DPR) is currently 24.04%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on GSL. Jefferies Financial Group lifted their price target 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 cut shares of Global Ship Lease from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Global Ship Lease in a research note on Friday, July 17th. B. Riley Financial boosted their price target on shares of Global Ship Lease from $48.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Zacks Research raised shares of Global Ship Lease from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. One investment 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's stock. According to data from MarketBeat, Global Ship Lease has a consensus rating of "Buy" and an average price target of $51.00.
View Our Latest Stock Analysis on Global Ship Lease
Hedge Funds Weigh In On Global Ship Lease
Hedge funds and other institutional investors have recently modified their holdings of the company. Donald Smith & CO. Inc. bought a new position in shares of Global Ship Lease during the 2nd quarter valued at about $27,859,000. First Trust Advisors LP bought a new stake in Global Ship Lease in the 1st quarter worth approximately $12,681,000. Arrowstreet Capital Limited Partnership bought a new stake in Global Ship Lease in the 1st quarter worth approximately $10,790,000. Goldman Sachs Group Inc. lifted its position in Global Ship Lease by 407.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 170,769 shares of the shipping company's stock worth $5,984,000 after buying an additional 137,113 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake 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 buying an additional 128,351 shares in the last quarter. 50.08% of the stock is currently owned by hedge funds and other institutional investors.
About Global Ship Lease
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Get Free Report)
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.
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