Global Ship Lease (NYSE:GSL) CFO Sells 48,330 Shares of Stock

Key Points

• Global Ship Lease CFO Anastasios Psaropoulos sold 48,330 shares at an average price of $45.02, generating approximately $2.18 million. The transaction reduced his direct ownership by 41.3%, to 68,698 shares.
• The company reported quarterly EPS of $2.48, exceeding estimates of $2.42, while revenue rose 3.9% year over year to $198.69 million. Global Ship Lease also declared a $0.625 quarterly dividend, equivalent to a 5.6% annualized yield.
• Shares recently traded at $44.48, near the company’s 52-week high, while analysts maintained an overall “Buy” consensus with an average price target of $51.00.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) CFO Anastasios Psaropoulos sold 48,330 shares of the business'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 sale, the chief financial officer directly owned 68,698 shares in the company, valued at $3,092,783.96. This trade represents a 41.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Anastasios Psaropoulos also recently made the following trade(s):

• On Wednesday, August 26th, Anastasios Psaropoulos sold 1,670 shares of Global Ship Lease stock. The stock was sold at an average price of $45.03, for a total transaction of $75,200.10.

Global Ship Lease Stock Down 1.1%

Shares of NYSE GSL traded down $0.51 during mid-day trading on Friday, hitting $44.48. The company had a trading volume of 241,354 shares, compared to its average volume of 389,356. The company has a current ratio of 2.13, a quick ratio of 2.06 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $41.56 and a two-hundred day simple moving average of $39.80. The company has a market capitalization of $1.60 billion, a PE ratio of 4.28 and a beta of 0.90. Global Ship Lease, Inc. has a one year low of $27.28 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.06. The business 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%.Global Ship Lease's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.67 earnings per share. On average, equities analysts expect that Global Ship Lease, Inc. will post 9.62 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Friday, August 21st will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, August 21st. Global Ship Lease's dividend payout ratio is presently 24.04%.

Hedge Funds Weigh In On Global Ship Lease

Several large investors have recently modified their holdings of GSL. NewEdge Advisors LLC boosted its holdings in shares of Global Ship Lease by 1.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,269 shares of the shipping company's stock worth $792,000 after buying an additional 296 shares during the period. Corient Private Wealth LP raised its holdings in Global Ship Lease by 2.1% in the 2nd quarter. Corient Private Wealth LP now owns 15,409 shares of the shipping company's stock valued at $579,000 after acquiring an additional 320 shares during the period. Parallel Advisors LLC lifted its position in Global Ship Lease by 5.2% during the third quarter. Parallel Advisors LLC now owns 9,827 shares of the shipping company's stock worth $302,000 after acquiring an additional 485 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Global Ship Lease by 49.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,579 shares of the shipping company's stock worth $59,000 after acquiring an additional 522 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in shares of Global Ship Lease by 0.7% during the third quarter. Moors & Cabot Inc. now owns 83,650 shares of the shipping company's stock worth $2,568,000 after acquiring an additional 600 shares during the period. 50.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GSL shares. Jefferies Financial Group lifted their price objective on shares of Global Ship Lease from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Global Ship Lease in a research note 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. Fearnley Fonds upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Finally, B. Riley Financial raised 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Global Ship Lease has an average rating of "Buy" and a consensus target price of $51.00.

About Global Ship Lease

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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