Navellier & Associates Inc. Buys Shares of 49,379 Global Ship Lease, Inc. $GSL

Key Points

• Navellier & Associates acquired 49,379 shares of Global Ship Lease worth approximately $1.86 million, while institutional investors and hedge funds collectively own 50.08% of the company.
• Global Ship Lease reported quarterly EPS of $2.48, exceeding estimates by $0.06, and revenue of $198.69 million, up 3.9% year over year. The company declared a quarterly dividend of $0.625, implying a 5.6% annualized yield.
• Insiders sold 80,000 shares worth approximately $3.58 million over the past three months. Despite the insider selling, analysts maintain a consensus “Buy” rating with an average price target of $51.

Navellier & Associates Inc. purchased a new position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 49,379 shares of the shipping company's stock, valued at approximately $1,857,000. Navellier & Associates Inc. owned approximately 0.14% of Global Ship Lease as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Triumph Capital Management acquired a new stake in Global Ship Lease in the third quarter worth about $25,000. Northwestern Mutual Wealth Management Co. bought a new position in Global Ship Lease in the 4th quarter valued at about $29,000. SHP Wealth Management acquired a new position in Global Ship Lease during the 4th quarter valued at about $35,000. Hilton Head Capital Partners LLC acquired a new position in Global Ship Lease during the 4th quarter valued at about $35,000. Finally, Strengthening Families & Communities LLC acquired a new stake in shares of Global Ship Lease in the 4th quarter worth approximately $55,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Global Ship Lease

In other Global Ship Lease news, CEO Thomas Arthur Lister sold 30,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 15,934 shares of the company's stock, valued at approximately $705,238.84. This represents a 65.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anastasios Psaropoulos sold 48,330 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $45.02, for a total transaction of $2,175,816.60. Following the completion of the transaction, the chief financial officer owned 68,698 shares of the company's stock, valued at approximately $3,092,783.96. The trade was a 41.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 80,000 shares of company stock worth $3,578,817 in the last three months. 7.40% of the stock is currently owned by company insiders.

Global Ship Lease Trading Down 1.1%

Shares of NYSE:GSL opened at $44.48 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.06 and a current ratio of 2.13. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 4.28 and a beta of 0.90. Global Ship Lease, Inc. has a 1-year low of $27.28 and a 1-year high of $45.45. The company has a 50 day moving average price of $41.56 and a 200 day moving average price of $39.80.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.06. The company had revenue of $198.69 million for the quarter, compared to analysts' expectations of $186.85 million. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The firm's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.67 earnings per share. On average, research analysts anticipate that Global Ship Lease, Inc. will post 9.62 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a $0.625 dividend. The ex-dividend date is Friday, August 21st. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.6%. Global Ship Lease's dividend payout ratio (DPR) is 24.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GSL shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Global Ship Lease in a report on Friday, July 17th. Wall Street Zen cut Global Ship Lease from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Jefferies Financial Group upped their target price on Global Ship Lease from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Zacks Research raised Global Ship Lease from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Finally, B. Riley Financial lifted their price target on Global Ship Lease from $48.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Global Ship Lease presently has a consensus rating of "Buy" and a consensus target price of $51.00.

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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