Anastasios Psaropoulos Sells 48,330 Shares of Global Ship Lease (NYSE:GSL) Stock

Global Ship Lease, Inc. (NYSE:GSL) CFO Anastasios Psaropoulos sold 48,330 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $45.02, for a total value of $2,175,816.60. Following the completion of the sale, the chief financial officer directly owned 68,698 shares of the company’s stock, valued at $3,092,783.96. The trade was a 41.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, August 26th, Anastasios Psaropoulos sold 1,670 shares of Global Ship Lease stock. The stock was sold at an average price of $45.03, for a total value of $75,200.10.

Global Ship Lease Stock Performance

NYSE GSL opened at $44.48 on Friday. The company has a market cap of $1.60 billion, a P/E ratio of 4.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.06 and a current ratio of 2.13. The business’s 50 day moving average price is $41.56 and its 200-day moving average price is $39.80. Global Ship Lease, Inc. has a fifty-two week low of $27.28 and a fifty-two week high of $45.45.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, August 5th. The shipping company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.06. The company had revenue of $198.69 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $2.67 EPS. Sell-side analysts predict that Global Ship Lease, Inc. will post 9.62 earnings per share for the current year.

Global Ship Lease Announces Dividend

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 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 dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

GSL has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. Jefferies Financial Group increased their price objective on shares of Global Ship Lease from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. B. Riley Financial raised their price objective 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. Zacks Research upgraded Global Ship Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wall Street Zen cut Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $51.00.

Institutional Investors Weigh In On Global Ship Lease

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management purchased a new stake in Global Ship Lease in the 3rd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Global Ship Lease during the fourth quarter worth approximately $29,000. SHP Wealth Management bought a new stake in shares of Global Ship Lease during the fourth quarter valued at approximately $35,000. Hilton Head Capital Partners LLC bought a new stake in shares of Global Ship Lease during the fourth quarter valued at approximately $35,000. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Global Ship Lease in the fourth quarter valued at approximately $55,000. 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.