Global Ship Lease (NYSE:GSL) CEO Thomas Arthur Lister Sells 30,000 Shares of Stock

Key Points

• CEO Thomas Arthur Lister sold 30,000 GSL shares at an average price of $44.26, generating $1.33 million and reducing his stake by 65.31% to 15,934 shares.
• Global Ship Lease exceeded quarterly expectations, reporting $2.48 in EPS and $198.69 million in revenue; revenue rose 3.9% year over year.
• The company declared a quarterly dividend of $0.625 per share, equivalent to a 5.6% annualized yield. Analysts maintain a consensus “Buy” rating with a $51 price target.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) CEO Thomas Arthur Lister sold 30,000 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $44.26, for a total value of $1,327,800.00. Following the sale, the chief executive officer owned 15,934 shares in the company, valued at $705,238.84. This represents a 65.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Global Ship Lease Price Performance

Shares of GSL opened at $45.03 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.62 billion, a PE ratio of 4.33 and a beta of 0.90. Global Ship Lease, Inc. has a 12-month low of $27.28 and a 12-month high of $45.45. The business has a 50-day simple moving average of $41.43 and a two-hundred day simple moving average of $39.77.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.06. The firm had revenue of $198.69 million for 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%.The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $2.67 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be given a dividend of $0.625 per share. 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 currently 24.04%.

Analyst Upgrades and Downgrades

GSL has been the subject of several recent research reports. Wall Street Zen cut shares of Global Ship Lease from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Fearnley Fonds upgraded shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Jefferies Financial Group boosted their price objective 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. Zacks Research upgraded Global Ship Lease from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Global Ship Lease in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $51.00.

Institutional Investors Weigh In On Global Ship Lease

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in Global Ship Lease by 137.0% in the first quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company's stock valued at $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% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,715 shares of the shipping company's stock valued at $124,000 after acquiring an additional 1,877 shares in the last quarter. Jump Financial LLC increased its stake in shares of Global Ship Lease by 88.2% in the 2nd 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 lifted its position in shares of Global Ship Lease by 4.7% during the 2nd 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 during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Global Ship Lease by 7.1% during the 2nd quarter. NewEdge Advisors LLC now owns 16,927 shares of the shipping company's stock valued at $445,000 after acquiring an additional 1,127 shares during the period. Institutional investors and hedge funds own 50.08% of the company's stock.

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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