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

Key Points

• CFO insider selling: Anastasios Psaropoulos sold 1,670 Global Ship Lease shares for approximately $75,200, then separately sold 48,330 shares for about $2.18 million. His remaining direct ownership was 117,028 shares after the first transaction.
• Strong quarterly performance: Global Ship Lease reported quarterly EPS of $2.48, exceeding estimates of $2.42, while revenue reached $198.69 million and rose 3.9% year over year.
• Dividend and analyst outlook: The company declared a quarterly dividend of $0.625, implying a 5.6% annualized yield. Analysts maintain an overall “Buy” rating with an average price target of $51, despite shares recently trading down 1.1% at $44.48.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) CFO Anastasios Psaropoulos sold 1,670 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $45.03, for a total transaction of $75,200.10. Following the completion of the sale, the chief financial officer directly owned 117,028 shares of the company's stock, valued at $5,269,770.84. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 shares were sold at an average price of $45.02, for a total transaction of $2,175,816.60.

Global Ship Lease Trading Down 1.1%

Shares of NYSE:GSL traded down $0.51 on Friday, reaching $44.48. 241,354 shares of the company traded hands, compared to its average volume of 389,356. The stock has a market capitalization of $1.60 billion, a P/E ratio of 4.28 and a beta of 0.90. The business's 50-day simple moving average is $41.56 and its 200 day simple moving average is $39.80. 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, Inc. has a 52 week low of $27.28 and a 52 week high of $45.45.

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

Global Ship Lease Dividend Announcement

The business also recently declared 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. This represents a $2.50 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, August 21st. Global Ship Lease's payout ratio is 24.04%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Global Ship Lease by 137.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company's stock worth $962,000 after buying an additional 24,333 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Global Ship Lease by 66.1% during the second quarter. Russell Investments Group Ltd. now owns 4,715 shares of the shipping company's stock valued at $124,000 after buying an additional 1,877 shares during the period. Jump Financial LLC raised its holdings in shares of Global Ship Lease by 88.2% during the second quarter. Jump Financial LLC now owns 51,616 shares of the shipping company's stock valued at $1,358,000 after acquiring an additional 24,196 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Global Ship Lease by 4.7% during the second quarter. Qube Research & Technologies Ltd now owns 459,791 shares of the shipping company's stock valued at $12,097,000 after acquiring an additional 20,819 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Global Ship Lease by 7.1% in the second quarter. NewEdge Advisors LLC now owns 16,927 shares of the shipping company's stock worth $445,000 after acquiring an additional 1,127 shares during the period. Hedge funds and other institutional investors own 50.08% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on GSL shares. B. Riley Financial boosted their price objective 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. Wall Street Zen cut shares of Global Ship Lease from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Jefferies Financial Group lifted their target price on shares of Global Ship Lease from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Fearnley Fonds upgraded shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Finally, Zacks Research raised shares of Global Ship Lease from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One research 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, Global Ship Lease presently has an average rating of "Buy" and an average price target of $51.00.

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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