Global Ship Lease (NYSE:GSL) Shares Pass Above 200-Day Moving Average – What’s Next?

Global Ship Lease, Inc. (NYSE:GSLGet Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $37.79 and traded as high as $39.10. Global Ship Lease shares last traded at $38.6450, with a volume of 283,824 shares.

Analysts Set New Price Targets

GSL has been the topic of a number of recent research reports. Fearnley Fonds raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Zacks Research lowered shares of Global Ship Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 3rd. B. Riley Financial lifted their price objective on shares of Global Ship Lease from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Jefferies Financial Group initiated coverage on Global Ship Lease in a report on Friday, April 24th. They set a “buy” rating and a $45.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Check Out Our Latest Research Report on Global Ship Lease

Global Ship Lease Trading Down 1.1%

The business’s 50-day moving average is $39.08 and its two-hundred day moving average is $37.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.26. The stock has a market capitalization of $1.35 billion, a PE ratio of 3.58 and a beta of 0.92.

Global Ship Lease (NYSE:GSLGet Free Report) last announced its quarterly earnings data on Friday, May 22nd. The shipping company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.16. Global Ship Lease had a net margin of 50.01% and a return on equity of 21.11%. The company had revenue of $198.08 million during the quarter, compared to the consensus estimate of $182.87 million. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.5 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend was Friday, May 22nd. Global Ship Lease’s dividend payout ratio is currently 23.74%.

Insider Buying and Selling

In related news, insider Georgios Giannopoulos sold 7,692 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $38.51, for a total value of $296,218.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.40% of the stock is currently owned by insiders.

Institutional Trading of Global Ship Lease

Several hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in Global Ship Lease by 137.0% during the first quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company’s stock worth $962,000 after acquiring an additional 24,333 shares during the period. Russell Investments Group Ltd. lifted its holdings in Global Ship Lease by 66.1% in the second quarter. Russell Investments Group Ltd. now owns 4,715 shares of the shipping company’s stock valued at $124,000 after acquiring an additional 1,877 shares during the period. Jump Financial LLC grew its stake in shares of Global Ship Lease by 88.2% during the 2nd quarter. Jump Financial LLC now owns 51,616 shares of the shipping company’s stock worth $1,358,000 after purchasing an additional 24,196 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Global Ship Lease by 4.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 459,791 shares of the shipping company’s stock worth $12,097,000 after purchasing an additional 20,819 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Global Ship Lease by 7.1% in the 2nd quarter. NewEdge Advisors LLC now owns 16,927 shares of the shipping company’s stock valued at $445,000 after purchasing an additional 1,127 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Company Profile

(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.

Further Reading

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