WealthBridge Capital Management LLC Makes New $609,000 Investment in Global Ship Lease, Inc. $GSL

WealthBridge Capital Management LLC acquired a new stake in Global Ship Lease, Inc. (NYSE:GSL) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 13,798 shares of the shipping company’s stock, valued at approximately $609,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venture Visionary Partners LLC acquired a new stake in shares of Global Ship Lease during the 3rd quarter worth about $232,000. Squarepoint Ops LLC acquired a new position in Global Ship Lease in the 2nd quarter valued at about $389,000. Corient Private Wealth LP grew its stake in Global Ship Lease by 2.1% in the 2nd quarter. Corient Private Wealth LP now owns 15,409 shares of the shipping company’s stock valued at $579,000 after buying an additional 320 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Global Ship Lease in the 2nd quarter valued at about $103,000. Finally, Secure Asset Management LLC bought a new position in Global Ship Lease in the 2nd quarter valued at about $212,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Stock Performance

Shares of GSL traded down $0.78 during midday trading on Friday, reaching $41.23. 314,135 shares of the stock were exchanged, compared to its average volume of 336,330. The stock’s 50 day simple moving average is $44.40 and its 200 day simple moving average is $41.32. The company has a market cap of $1.48 billion, a P/E ratio of 3.96 and a beta of 0.98. Global Ship Lease, Inc. has a twelve month low of $27.81 and a twelve month high of $46.57. The company has a quick ratio of 2.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.27.

Global Ship Lease (NYSE:GSL) last released its quarterly 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. Global Ship Lease had a net margin of 49.10% and a return on equity of 19.92%. The business had revenue of $198.69 million for the quarter, compared to the consensus estimate of $186.85 million. During the same period in the prior year, the company posted $2.67 earnings per share. Global Ship Lease’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts expect that Global Ship Lease, Inc. will post 9.62 earnings per share for the current year.

Global Ship Lease Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GSL. Jefferies Financial Group raised 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. Wall Street Zen downgraded Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday. Finally, B. Riley Financial lifted their price target on Global Ship Lease from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $51.00.

Insider Buying and Selling at Global Ship Lease

In other Global Ship Lease news, CEO Thomas Lister sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $44.26, for a total value of $1,327,800.00. Following the completion of the sale, the chief executive officer owned 15,934 shares of the company’s stock, valued at $705,238.84. The trade was a 65.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Georgios Giannopoulos sold 7,692 shares of the business’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $45.08, for a total transaction of $346,755.36. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 91,692 shares of company stock worth $4,104,852 over the last quarter. Company insiders own 7.40% of the company’s stock.

Global Ship Lease Profile

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.