Global Ship Lease, Inc. $GSL is Punch & Associates Investment Management Inc.’s 6th Largest Position

Punch & Associates Investment Management Inc. lowered its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 971,790 shares of the shipping company’s stock after selling 125,651 shares during the period. Global Ship Lease accounts for 2.0% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Punch & Associates Investment Management Inc. owned approximately 2.72% of Global Ship Lease worth $34,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of GSL. Triumph Capital Management purchased a new stake in shares of Global Ship Lease during the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its stake in shares of Global Ship Lease by 77.2% during 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 last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $35,000. Finally, LOM Asset Management Ltd purchased a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Tuesday, April 21st. B. Riley Financial raised their price target on shares of Global Ship Lease from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Fearnley Fonds upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Zacks Research lowered shares of Global Ship Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Insider Buying and Selling

In other Global Ship Lease news, insider Georgios Giannopoulos sold 7,692 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $38.51, for a total value of $296,218.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Global Ship Lease Stock Down 1.4%

Shares of NYSE:GSL opened at $38.81 on Wednesday. The firm has a fifty day moving average price of $39.15 and a two-hundred day moving average price of $37.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 2.21. Global Ship Lease, Inc. has a one year low of $25.44 and a one year high of $42.70. The company has a market cap of $1.39 billion, a price-to-earnings 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 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 firm had revenue of $198.08 million during the quarter, compared to the consensus estimate of $182.87 million. Global Ship Lease’s revenue was up 3.7% on a year-over-year basis. Analysts anticipate that Global Ship Lease, Inc. will post 9.5 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Friday, May 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 23.74%.

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.