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 stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $44.26, for a total transaction of $1,327,800.00. Following the transaction, the chief executive officer directly owned 15,934 shares in the company, valued at $705,238.84. This trade represents a 65.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Ship Lease Stock Performance

Shares of GSL opened at $45.03 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.13 and a quick ratio of 2.06. Global Ship Lease, Inc. has a one year low of $27.28 and a one year high of $45.45. The company has a market cap of $1.62 billion, a PE ratio of 4.33 and a beta of 0.90. The stock has a 50-day moving average of $41.43 and a 200-day moving average of $39.77.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share (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 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.67 EPS. On average, equities research analysts predict that Global Ship Lease, Inc. will post 9.62 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, August 21st. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. Global Ship Lease’s payout ratio is presently 24.04%.

Institutional Trading of Global Ship Lease

Hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new position in shares of Global Ship Lease during the 3rd quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Global Ship Lease in the fourth quarter valued at approximately $29,000. SHP Wealth Management purchased a new position in Global Ship Lease in the fourth quarter valued at approximately $35,000. Hilton Head Capital Partners LLC bought a new position in Global Ship Lease during the fourth quarter valued at $35,000. Finally, Strengthening Families & Communities LLC bought a new position in Global Ship Lease during the fourth quarter valued at $55,000. Institutional investors own 50.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on GSL. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. B. Riley Financial upped their target price on shares of Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Wall Street Zen lowered shares of Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group boosted their price target on shares of Global Ship Lease from $45.00 to $50.00 and gave the stock a “buy” rating in a 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target 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.