Insider Selling: Global Ship Lease (NYSE:GSL) Insider Sells 7,692 Shares of Stock

Key Points

• Insider sale: Georgios Giannopoulos sold 7,692 Global Ship Lease shares at an average price of $45.08, generating approximately $346,755.
• Financial performance: Global Ship Lease reported quarterly EPS of $2.48, exceeding estimates of $2.42, while revenue rose 3.9% year over year to $198.69 million.
• Dividend and outlook: The company pays a quarterly dividend of $0.625, equivalent to a 5.9% yield, and analysts maintain a consensus “Buy” rating with an average price target of $51.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) insider Georgios Giannopoulos sold 7,692 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $45.08, for a total transaction of $346,755.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Global Ship Lease Stock Performance

Shares of NYSE:GSL traded down $0.73 on Thursday, hitting $42.42. 83,692 shares of the company were exchanged, compared to its average volume of 337,057. The company's 50 day moving average price is $44.44 and its two-hundred day moving average price is $41.28. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 4.09 and a beta of 0.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.06 and a current ratio of 2.13. Global Ship Lease, Inc. has a one year low of $27.81 and a one year high of $46.57.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its 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 business 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 was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.67 earnings per share. Research analysts expect that Global Ship Lease, Inc. will post 9.62 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were paid a $0.6250 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.50 annualized dividend and a yield of 5.9%. Global Ship Lease's dividend payout ratio is presently 24.04%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SHP Wealth Management bought a new stake in Global Ship Lease in the fourth quarter valued at $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of Global Ship Lease by 49.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,579 shares of the shipping company's stock worth $59,000 after purchasing an additional 522 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in Global Ship Lease in the 2nd quarter worth approximately $80,000. Ameritas Advisory Services LLC bought a new position in shares of Global Ship Lease in the 2nd quarter worth approximately $103,000. Finally, Venture Visionary Partners LLC bought a new stake in Global Ship Lease during the third quarter valued at about $232,000. 50.08% of the stock is owned by institutional investors.

About Global Ship Lease

Global Ship Lease, Inc NYSE: GSL is a containership owner and charterer that provides maritime transportation capacity to liner companies. The company owns and manages a fleet of container vessels designed to transport manufactured goods, consumer products, industrial materials and other containerized cargo across international trade routes.

Global Ship Lease generally employs time-charter arrangements, under which its vessels are leased to container shipping companies for specified periods.

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