Global Ship Lease (NYSE:GSL) CFO Anastasios Psaropoulos Sells 1,670 Shares of Stock

Global Ship Lease, Inc. (NYSE:GSLGet Free Report) CFO Anastasios Psaropoulos sold 1,670 shares of Global Ship Lease stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $45.03, for a total value of $75,200.10. Following the transaction, the chief financial officer owned 117,028 shares of the company’s stock, valued at $5,269,770.84. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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 stock was sold at an average price of $45.02, for a total value of $2,175,816.60.

Global Ship Lease Trading Down 1.1%

Shares of Global Ship Lease stock opened at $44.48 on Friday. The company has a market capitalization of $1.60 billion, a P/E ratio of 4.28 and a beta of 0.90. The stock has a fifty day simple moving average of $41.56 and a 200 day simple moving average of $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 current ratio of 2.13, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27.

Global Ship Lease (NYSE:GSLGet Free Report) last posted its 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 net margin of 49.10% and a return on equity of 19.92%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.67 EPS. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders 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 yield of 5.6%. Global Ship Lease’s dividend payout ratio (DPR) is 24.04%.

Hedge Funds Weigh In On Global Ship Lease

Several institutional investors have recently bought and sold shares of GSL. Donald Smith & CO. Inc. bought a new position in Global Ship Lease during the second quarter valued at $27,859,000. First Trust Advisors LP bought a new stake in shares of Global Ship Lease in the first quarter valued at $12,681,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Global Ship Lease in the first quarter valued at $10,790,000. Goldman Sachs Group Inc. lifted its position in shares of Global Ship Lease by 407.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 170,769 shares of the shipping company’s stock valued at $5,984,000 after buying an additional 137,113 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Global Ship Lease by 225.9% during the 1st 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. 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 research analyst reports. Wall Street Zen downgraded Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. B. Riley Financial lifted their price target on Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Jefferies Financial Group raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Global Ship Lease presently has a consensus rating of “Buy” and an average target price of $51.00.

View Our Latest Stock Analysis on GSL

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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