Navellier & Associates Inc. purchased a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 49,379 shares of the shipping company’s stock, valued at approximately $1,857,000.
Other hedge funds have also recently bought and sold shares of the company. Triumph Capital Management acquired a new stake in Global Ship Lease during the 3rd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Global Ship Lease during the 4th quarter valued at about $29,000. SHP Wealth Management acquired a new position in shares of Global Ship Lease in the 4th quarter valued at about $35,000. Hilton Head Capital Partners LLC acquired a new position in shares of Global Ship Lease in the 4th quarter valued at about $35,000. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Global Ship Lease in the fourth quarter worth approximately $55,000. 50.08% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Global Ship Lease
In other news, CFO Anastasios Psaropoulos sold 48,330 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $45.02, for a total transaction of $2,175,816.60. Following the transaction, the chief financial officer owned 68,698 shares in the company, valued at $3,092,783.96. This represents a 41.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Arthur Lister sold 30,000 shares of the firm’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 transaction, the chief executive officer owned 15,934 shares in the company, valued at $705,238.84. This represents a 65.31% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 80,000 shares of company stock worth $3,578,817. 7.40% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on GSL
Global Ship Lease Stock Down 1.1%
Shares of Global Ship Lease stock opened at $44.48 on Friday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 4.28 and a beta of 0.90. 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 52-week low of $27.28 and a 52-week high of $45.45. The stock has a 50-day simple moving average of $41.56 and a 200-day simple moving average of $39.80.
Global Ship Lease (NYSE:GSL – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The business had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $186.85 million. During the same quarter in the previous year, the business posted $2.67 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that Global Ship Lease, Inc. will post 9.62 earnings per share for the current fiscal year.
Global Ship Lease Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, August 21st. Global Ship Lease’s payout ratio is currently 24.04%.
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.
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