Global Ship Lease, Inc. $GSL Shares Sold by Punch & Associates Investment Management Inc.

Key Points

• Punch & Associates Investment Management cut its stake in Global Ship Lease by 26.1% in the first quarter, selling 253,717 shares and leaving it with 718,073 shares worth about $26.7 million.
• Analyst sentiment is mixed but bullish overall, with a consensus rating of “Moderate Buy” and an average price target of $46.50; Jefferies set a $45 target while Zacks issued a rare “strong sell.”
• Global Ship Lease reported strong quarterly results, beating earnings and revenue estimates with $2.56 EPS and $198.08 million in revenue, while also paying a quarterly dividend of $0.625 per share, implying a 5.7% yield.

Punch & Associates Investment Management Inc. trimmed its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 718,073 shares of the shipping company's stock after selling 253,717 shares during the period. Global Ship Lease accounts for 1.5% of Punch & Associates Investment Management Inc.'s holdings, making the stock its 14th biggest position. Punch & Associates Investment Management Inc. owned about 2.00% of Global Ship Lease worth $26,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Samalin Investment Counsel LLC raised its position in shares of Global Ship Lease by 1.3% during the 4th quarter. Samalin Investment Counsel LLC now owns 23,127 shares of the shipping company's stock worth $810,000 after purchasing an additional 291 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Global Ship Lease by 5.2% in the 3rd quarter. Parallel Advisors LLC now owns 9,827 shares of the shipping company's stock worth $302,000 after buying an additional 485 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in Global Ship Lease by 0.7% in the 3rd quarter. Moors & Cabot Inc. now owns 83,650 shares of the shipping company's stock worth $2,568,000 after buying an additional 600 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in Global Ship Lease by 2.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 28,668 shares of the shipping company's stock worth $880,000 after buying an additional 701 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Global Ship Lease by 73.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,673 shares of the shipping company's stock worth $59,000 after buying an additional 711 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GSL shares. Weiss Ratings restated a "buy (b)" rating on shares of Global Ship Lease in a research report on Friday, July 17th. Jefferies Financial Group began coverage on Global Ship Lease in a report on Friday, April 24th. They issued a "buy" rating and a $45.00 price objective on the stock. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Fearnley Fonds raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Finally, Zacks Research cut shares of Global Ship Lease from a "hold" rating to a "strong sell" rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.50.

Global Ship Lease Price Performance

Global Ship Lease stock opened at $43.66 on Friday. Global Ship Lease, Inc. has a 12-month low of $27.28 and a 12-month high of $43.89. The stock has a market cap of $1.57 billion, a P/E ratio of 4.15 and a beta of 0.90. The company has a 50-day moving average price of $39.14 and a 200 day moving average price of $38.57. The company has a current ratio of 2.26, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $182.87 million. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.5 earnings per share for the current year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, May 22nd. Global Ship Lease's payout ratio is presently 23.74%.

Global Ship Lease 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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