Royal Palms Capital LLC Takes $3.67 Million Position in Global Ship Lease, Inc. $GSL

Key Points

• Royal Palms Capital LLC opened a new position in Global Ship Lease, buying 104,595 shares valued at about $3.67 million. The stake represents 4.3% of the firm’s holdings and makes GSL its 8th largest position.
• Global Ship Lease reported strong quarterly results, with earnings of $2.56 per share topping estimates and revenue of $198.08 million also beating expectations. The company posted a 21.59% return on equity and 50.01% net margin.
• The company announced a quarterly dividend of $0.625 per share, equal to an annualized yield of 6.7%. Analysts currently rate the stock a consensus Buy, with a target price of $46.50.

Royal Palms Capital LLC bought a new stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 104,595 shares of the shipping company's stock, valued at approximately $3,665,000. Global Ship Lease accounts for 4.3% of Royal Palms Capital LLC's holdings, making the stock its 8th largest holding. Royal Palms Capital LLC owned 0.29% of Global Ship Lease at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP grew its stake in shares of Global Ship Lease by 39.7% in the 4th quarter. GSA Capital Partners LLP now owns 50,016 shares of the shipping company's stock valued at $1,753,000 after buying an additional 14,214 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Global Ship Lease in the 4th quarter valued at about $218,000. Strengthening Families & Communities LLC acquired a new stake in shares of Global Ship Lease in the 4th quarter valued at about $55,000. Wulff Hansen & CO. acquired a new stake in shares of Global Ship Lease in the 4th quarter valued at about $238,000. Finally, SBI Securities Co. Ltd. grew its stake in shares of Global Ship Lease by 310.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 8,941 shares of the shipping company's stock valued at $313,000 after buying an additional 6,762 shares during the period. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Global Ship Lease

In other Global Ship Lease news, insider Georgios Giannopoulos sold 7,692 shares of Global Ship Lease stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $38.51, for a total transaction of $296,218.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.40% of the company's stock.

Global Ship Lease Price Performance

GSL stock opened at $37.59 on Wednesday. The company has a market capitalization of $1.35 billion, a P/E ratio of 3.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.00 and a current ratio of 2.04. Global Ship Lease, Inc. has a 52-week low of $24.45 and a 52-week high of $42.70. The business has a 50-day simple moving average of $39.13 and a two-hundred day simple moving average of $37.26.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.16. The business had revenue of $198.08 million during the quarter, compared to the consensus estimate of $182.87 million. Global Ship Lease had a return on equity of 21.59% and a net margin of 50.01%.The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts expect that Global Ship Lease, Inc. will post 9.68 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, May 22nd. This represents a $2.50 dividend on an annualized basis and a yield of 6.7%. Global Ship Lease's payout ratio is 23.74%.

Analyst Ratings Changes

Several analysts have recently commented on GSL shares. Wall Street Zen downgraded Global Ship Lease from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Weiss Ratings restated a "buy (b)" rating on shares of Global Ship Lease in a research note on Tuesday, April 21st. Jefferies Financial Group started coverage on Global Ship Lease in a research note on Friday, April 24th. They issued a "buy" rating and a $45.00 target price for the company. Zacks Research upgraded Global Ship Lease from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Fearnley Fonds upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Global Ship Lease presently has a consensus rating of "Buy" and a consensus target price of $46.50.

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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