Wealthstar Advisors LLC Buys Shares of 16,732 Global Ship Lease, Inc. $GSL

Wealthstar Advisors LLC bought a new stake in Global Ship Lease, Inc. (NYSE:GSL) during the 1st quarter, HoldingsChannel.com reports. The firm bought 16,732 shares of the shipping company’s stock, valued at approximately $623,000.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in Global Ship Lease by 137.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company’s stock valued at $962,000 after purchasing an additional 24,333 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Global Ship Lease by 66.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,715 shares of the shipping company’s stock valued at $124,000 after purchasing an additional 1,877 shares in the last quarter. Jump Financial LLC boosted its stake in Global Ship Lease by 88.2% during the 2nd quarter. Jump Financial LLC now owns 51,616 shares of the shipping company’s stock worth $1,358,000 after purchasing an additional 24,196 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Global Ship Lease by 4.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 459,791 shares of the shipping company’s stock worth $12,097,000 after purchasing an additional 20,819 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Global Ship Lease by 7.1% during the 2nd quarter. NewEdge Advisors LLC now owns 16,927 shares of the shipping company’s stock worth $445,000 after purchasing an additional 1,127 shares during the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Stock Performance

NYSE GSL opened at $38.20 on Friday. The stock’s fifty day moving average is $39.03 and its two-hundred day moving average is $37.89. The firm has a market capitalization of $1.37 billion, a P/E ratio of 3.63 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.26. Global Ship Lease, Inc. has a fifty-two week low of $26.60 and a fifty-two week high of $42.70.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.16. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business had revenue of $198.08 million during the quarter, compared to the consensus estimate of $182.87 million. Global Ship Lease’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that Global Ship Lease, Inc. will post 9.5 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were issued a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.5%. Global Ship Lease’s dividend payout ratio is currently 23.74%.

Analysts Set New Price Targets

GSL has been the subject of a number of recent research reports. B. Riley Financial increased their target price on shares of Global Ship Lease from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research report on Tuesday, April 21st. Jefferies Financial Group started coverage on shares of Global Ship Lease in a research note on Friday, April 24th. They set a “buy” rating and a $45.00 price objective for the company. Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Insider Activity

In related news, insider Georgios Giannopoulos sold 7,692 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $38.51, for a total transaction of $296,218.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.40% 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.