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 company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $45.03, for a total transaction of $75,200.10. Following the completion of the transaction, the chief financial officer owned 117,028 shares of the company’s stock, valued at $5,269,770.84. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 shares were sold at an average price of $45.02, for a total transaction of $2,175,816.60.

Global Ship Lease Trading Down 1.1%

Shares of GSL traded down $0.51 during trading hours on Friday, reaching $44.48. 241,354 shares of the company traded hands, compared to its average volume of 389,356. Global Ship Lease, Inc. has a 12 month low of $27.28 and a 12 month 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’s fifty day moving average price is $41.56 and its two-hundred day moving average price is $39.80. The company 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 released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.06. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The company had revenue of $198.69 million during the quarter, compared to the consensus estimate of $186.85 million. During the same period in the prior year, the firm earned $2.67 earnings per share. Global Ship Lease’s revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Global Ship Lease, Inc. will post 9.62 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st will be issued a dividend of $0.625 per share. 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 dividend payout ratio is 24.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. B. Riley Financial raised their target price on Global Ship Lease from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group upped their price target on Global Ship Lease from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $51.00.

Institutional Investors Weigh In On Global Ship Lease

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Triumph Capital Management bought a new position in shares of Global Ship Lease during the third quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Global Ship Lease in the 4th quarter worth approximately $29,000. SHP Wealth Management bought a new stake in shares of Global Ship Lease in the 4th quarter worth approximately $35,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Global Ship Lease in the 4th quarter worth approximately $35,000. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Global Ship Lease in the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 50.08% 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.