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

Global Ship Lease, Inc. (NYSE:GSL) CEO Thomas Arthur Lister sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $44.26, for a total transaction of $1,327,800.00. Following the sale, the chief executive officer owned 15,934 shares of the company’s stock, valued at $705,238.84. This trade represents a 65.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Global Ship Lease Stock Down 1.1%

NYSE GSL opened at $44.48 on Friday. Global Ship Lease, Inc. has a 52 week low of $27.28 and a 52 week high of $45.45. 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 capitalization of $1.60 billion, a P/E ratio of 4.28 and a beta of 0.90. The stock’s 50-day moving average price is $41.56 and its 200-day moving average price is $39.80.

Global Ship Lease (NYSE:GSL) 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 company had revenue of $198.69 million during the quarter, compared to analyst estimates of $186.85 million. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.67 EPS. On average, equities research analysts predict that Global Ship Lease, Inc. will post 9.62 earnings per share for the current year.

Global Ship Lease Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GSL shares. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. B. Riley Financial raised their price target on Global Ship Lease from $48.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 6th. 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. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $51.00.

Hedge Funds Weigh In On Global Ship Lease

Several institutional investors have recently added to or reduced their stakes in GSL. Corient Private Wealth LP boosted its position in shares of Global Ship Lease by 2.1% during 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 last quarter. Ameritas Advisory Services LLC bought a new position in shares of Global Ship Lease in the 2nd quarter valued at about $103,000. Secure Asset Management LLC purchased a new position in Global Ship Lease in the second quarter worth about $212,000. Navellier & Associates Inc. bought a new stake in Global Ship Lease during the second quarter worth approximately $1,857,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Global Ship Lease during the second quarter valued at approximately $4,210,000. Hedge funds and other institutional investors 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.