Anastasios Psaropoulos Sells 1,670 Shares of Global Ship Lease (NYSE:GSL) Stock

Global Ship Lease, Inc. (NYSE:GSL) CFO Anastasios Psaropoulos sold 1,670 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $45.03, for a total value of $75,200.10. Following the completion of the sale, the chief financial officer directly owned 117,028 shares in the company, valued at approximately $5,269,770.84. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Anastasios Psaropoulos also recently made the following trade(s):

• On Thursday, August 27th, Anastasios Psaropoulos sold 48,330 shares of Global Ship Lease stock. The stock was sold at an average price of $45.02, for a total transaction of $2,175,816.60.

Global Ship Lease Stock Performance

NYSE GSL opened at $44.48 on Friday. The company’s fifty day moving average is $41.56 and its two-hundred day moving average is $39.80. Global Ship Lease, Inc. has a 52-week low of $27.28 and a 52-week high of $45.45. 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 firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 4.28 and a beta of 0.90.

Global Ship Lease (NYSE:GSL) last issued 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. The firm had revenue of $198.69 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $2.67 earnings per share. Equities research analysts forecast that Global Ship Lease, Inc. will post 9.62 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently announced 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 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 payout ratio is 24.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GSL. Donald Smith & CO. Inc. bought a new stake in Global Ship Lease during the second quarter worth about $27,859,000. Two Sigma Investments LP grew its stake in Global Ship Lease by 2.7% in the third quarter. Two Sigma Investments LP now owns 626,787 shares of the shipping company’s stock valued at $19,242,000 after purchasing an additional 16,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Global Ship Lease by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company’s stock valued at $16,136,000 after purchasing an additional 31,047 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Global Ship Lease by 23.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 567,442 shares of the shipping company’s stock worth $17,420,000 after purchasing an additional 107,651 shares during the last quarter. Finally, CSM Advisors LLC raised its stake in shares of Global Ship Lease by 3.0% during the 4th quarter. CSM Advisors LLC now owns 446,060 shares of the shipping company’s stock worth $15,629,000 after purchasing an additional 13,141 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GSL shares. Wall Street Zen cut shares of Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. 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 report on Thursday, August 6th. Jefferies Financial Group increased their price target on shares of Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a research note 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, Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Global Ship Lease currently has an average rating of “Buy” and an average target price of $51.00.

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.