Global Ship Lease (NYSE:GSL) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Global Ship Lease shares crossed above their 200-day moving average, reaching $46.05 and last trading near $45.77, compared with a 200-day average of $40.30.
• Analysts remain broadly positive, with the stock carrying an average “Buy” rating and a $51 price target; B. Riley and Jefferies recently raised their targets to $52 and $50, respectively.
• The company exceeded quarterly earnings and revenue expectations, while maintaining a $0.625 quarterly dividend that implies a 5.5% annual yield. However, the CEO and CFO sold shares recently, totaling about $3.6 million.

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $40.30 and traded as high as $46.05. Global Ship Lease shares last traded at $45.7690, with a volume of 173,019 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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. Wall Street Zen lowered Global Ship Lease from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. B. Riley Financial raised their price objective on Global Ship Lease from $48.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Global Ship Lease in a report on Friday, July 17th. Finally, Jefferies Financial Group boosted their price objective on Global Ship Lease from $45.00 to $50.00 and gave the company 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 assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $51.00.

Global Ship Lease Trading Up 0.5%

The company's fifty day moving average price is $43.01 and its two-hundred day moving average price is $40.30. 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 company has a market cap of $1.64 billion, a price-to-earnings ratio of 4.40 and a beta of 0.88.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.42 by $0.06. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The business had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. During the same period in the previous year, the business earned $2.67 EPS. Global Ship Lease's revenue was up 3.9% compared to the same quarter last year. Research analysts expect that Global Ship Lease, Inc. will post 9.62 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.50 dividend on an annualized basis and a yield of 5.5%. Global Ship Lease's payout ratio is currently 24.04%.

Insider Buying and Selling at Global Ship Lease

In other news, CFO Anastasios Psaropoulos sold 48,330 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $45.02, for a total value of $2,175,816.60. Following the completion of the sale, the chief financial officer directly owned 68,698 shares in the company, valued at approximately $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 SEC, which is available through this link. Also, CEO Thomas Lister sold 30,000 shares of Global Ship Lease stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $44.26, for a total value of $1,327,800.00. Following the completion of the transaction, the chief executive officer directly owned 15,934 shares of the company's stock, valued at $705,238.84. This represents a 65.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,000 shares of company stock worth $3,578,817 in the last 90 days. Company insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in shares of Global Ship Lease in the second quarter worth about $389,000. Corient Private Wealth LP increased its holdings in shares of Global Ship Lease by 2.1% in the second quarter. Corient Private Wealth LP now owns 15,409 shares of the shipping company's stock valued at $579,000 after purchasing an additional 320 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Global Ship Lease in the second quarter valued at approximately $103,000. Secure Asset Management LLC bought a new position in Global Ship Lease in the 2nd quarter worth approximately $212,000. Finally, Navellier & Associates Inc. acquired a new position in Global Ship Lease during the 2nd quarter worth $1,857,000. Institutional investors and hedge funds own 50.08% of the company's stock.

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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