Global Ship Lease (NYSE:GSL) CFO Anastasios Psaropoulos Sells 48,330 Shares

Global Ship Lease, Inc. (NYSE:GSL) CFO Anastasios Psaropoulos sold 48,330 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were 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 owned 68,698 shares of the company’s stock, valued at $3,092,783.96. This trade represents a 41.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 shares were sold at an average price of $45.03, for a total value of $75,200.10.

Global Ship Lease Stock Performance

NYSE GSL traded down $0.51 on Friday, reaching $44.48. The stock had a trading volume of 241,354 shares, compared to its average volume of 389,356. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.13 and a quick ratio of 2.06. The company has a market cap of $1.60 billion, a P/E ratio of 4.28 and a beta of 0.90. The firm has a fifty day moving average of $41.56 and a two-hundred day moving average of $39.80. Global Ship Lease, Inc. has a 1-year low of $27.28 and a 1-year high of $45.45.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. The company had revenue of $198.69 million during the quarter, compared to the consensus estimate of $186.85 million. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%.The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.67 earnings per share. On average, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.62 EPS for the current year.

Global Ship Lease Announces Dividend

The firm also recently declared 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. 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 dividend payout ratio (DPR) is currently 24.04%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Global Ship Lease by 1.4% during the first quarter. NewEdge Advisors LLC now owns 21,269 shares of the shipping company’s stock worth $792,000 after purchasing an additional 296 shares during the last quarter. Corient Private Wealth LP increased its stake in shares of 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 purchasing an additional 320 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Global Ship Lease by 5.2% in the 3rd quarter. Parallel Advisors LLC now owns 9,827 shares of the shipping company’s stock valued at $302,000 after purchasing an additional 485 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake 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 valued at $59,000 after purchasing an additional 522 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of Global Ship Lease by 0.7% during the 3rd quarter. Moors & Cabot Inc. now owns 83,650 shares of the shipping company’s stock worth $2,568,000 after buying an additional 600 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GSL has been the subject of a number of recent research reports. Jefferies Financial Group boosted 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. Fearnley Fonds raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. B. Riley Financial lifted their price target on shares of Global Ship Lease from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. One equities 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average 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.