Global Ship Lease (NYSE:GSL) Stock: Insider Georgios Giannopoulos Sells 7,692 Shares

Global Ship Lease, Inc. (NYSE:GSL) insider Georgios Giannopoulos sold 7,692 shares of the company’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $45.08, for a total value of $346,755.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Global Ship Lease Price Performance

GSL stock opened at $41.23 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.06 and a current ratio of 2.13. Global Ship Lease, Inc. has a 1 year low of $27.81 and a 1 year high of $46.57. The firm has a market cap of $1.48 billion, a P/E ratio of 4.21 and a beta of 0.98. The stock has a 50-day simple moving average of $44.40 and a 200-day simple moving average of $41.32.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Wednesday, August 5th. The shipping company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.42 by $0.06. The business had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. Global Ship Lease had a return on equity of 19.92% and a net margin of 49.10%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $2.67 EPS. On average, equities analysts predict that Global Ship Lease, Inc. will post 9.62 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were given a $0.6250 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $2.50 annualized dividend and a yield of 6.1%. Global Ship Lease’s dividend payout ratio (DPR) is 24.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in Global Ship Lease during the 2nd quarter worth approximately $4,210,000. Sei Investments Co. raised its position in shares of Global Ship Lease by 51.8% in the 1st quarter. Sei Investments Co. now owns 200,806 shares of the shipping company’s stock valued at $7,476,000 after purchasing an additional 68,535 shares in the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of Global Ship Lease during the 2nd quarter valued at approximately $27,859,000. SG Americas Securities LLC boosted its stake in shares of Global Ship Lease by 225.9% during the 1st quarter. SG Americas Securities LLC now owns 185,168 shares of the shipping company’s stock valued at $6,894,000 after buying an additional 128,351 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Global Ship Lease during the 1st quarter valued at approximately $12,681,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. B. Riley Financial boosted 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 raised their price target on shares of Global Ship Lease from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a report on Thursday. Zacks Research raised shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Wall Street Zen lowered shares of Global Ship Lease from a “buy” rating to a “hold” rating in a report 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 issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $51.00.

About Global Ship Lease

Global Ship Lease, Inc (NYSE:GSL) is a containership owner and charterer that provides maritime transportation capacity to liner companies. The company owns and manages a fleet of container vessels designed to transport manufactured goods, consumer products, industrial materials and other containerized cargo across international trade routes.

Global Ship Lease generally employs time-charter arrangements, under which its vessels are leased to container shipping companies for specified periods.