Allianz Asset Management GmbH Sells 57,723 Shares of Global Ship Lease, Inc. $GSL

Allianz Asset Management GmbH reduced its position in Global Ship Lease, Inc. (NYSE:GSL) by 15.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 327,693 shares of the shipping company’s stock after selling 57,723 shares during the period. Allianz Asset Management GmbH owned about 0.92% of Global Ship Lease worth $10,060,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GSL. Goldman Sachs Group Inc. raised its stake in Global Ship Lease by 137.0% in the first quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company’s stock valued at $962,000 after buying an additional 24,333 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Global Ship Lease during the 2nd quarter valued at $72,000. Commons Capital LLC boosted its position in Global Ship Lease by 244.0% during the second quarter. Commons Capital LLC now owns 86,000 shares of the shipping company’s stock worth $2,263,000 after purchasing an additional 61,000 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in shares of Global Ship Lease by 60.4% in the second quarter. Y Intercept Hong Kong Ltd now owns 14,347 shares of the shipping company’s stock valued at $377,000 after purchasing an additional 5,402 shares during the last quarter. Finally, Sigma Planning Corp raised its position in shares of Global Ship Lease by 3.2% in the second quarter. Sigma Planning Corp now owns 19,250 shares of the shipping company’s stock valued at $506,000 after purchasing an additional 600 shares during the period. Institutional investors own 50.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GSL shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a report on Thursday, January 22nd. Zacks Research cut Global Ship Lease from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Finally, Jefferies Financial Group increased their target price on Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Global Ship Lease currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Global Ship Lease Stock Performance

NYSE GSL opened at $36.61 on Monday. The firm has a 50-day moving average price of $35.59 and a two-hundred day moving average price of $32.55. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $38.52. The company has a market capitalization of $1.31 billion, a P/E ratio of 3.29 and a beta of 0.93. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. The company had revenue of $192.67 million during the quarter, compared to the consensus estimate of $180.36 million. Global Ship Lease had a net margin of 53.62% and a return on equity of 23.98%. The firm’s revenue was up 10.7% on a year-over-year basis. Analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Profile

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.