Global Ship Lease, Inc. $GSL Position Reduced by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. lessened its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 11.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 971,790 shares of the shipping company’s stock after selling 125,651 shares during the quarter. Global Ship Lease accounts for 2.0% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 6th largest holding. Punch & Associates Investment Management Inc.’s holdings in Global Ship Lease were worth $34,052,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GSL. Triumph Capital Management purchased a new position in Global Ship Lease in the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Global Ship Lease in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC raised its position in Global Ship Lease by 77.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 989 shares of the shipping company’s stock worth $30,000 after purchasing an additional 431 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Global Ship Lease in the 4th quarter worth $35,000. Finally, LOM Asset Management Ltd purchased a new position in Global Ship Lease in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Insider Activity

In related news, insider Georgios Giannopoulos sold 7,692 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $38.81 on Wednesday. Global Ship Lease, Inc. has a 1 year low of $25.44 and a 1 year high of $42.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 2.21. The company’s 50-day moving average is $39.15 and its 200 day moving average is $37.67. The stock has a market capitalization of $1.39 billion, a P/E ratio of 3.69 and a beta of 0.92.

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

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.50 annualized dividend and a dividend yield of 6.4%. Global Ship Lease’s payout ratio is currently 23.74%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. B. Riley Financial lifted their target price on shares of Global Ship Lease from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Jefferies Financial Group started coverage on shares of Global Ship Lease in a research report on Friday, April 24th. They issued a “buy” rating and a $45.00 price objective on the stock. Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

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.