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% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,693 shares of the shipping company’s stock after selling 57,723 shares during the quarter. Allianz Asset Management GmbH’s holdings in Global Ship Lease were worth $10,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of Global Ship Lease by 11.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 17,985 shares of the shipping company’s stock worth $573,000 after acquiring an additional 1,775 shares during the period. State of Wyoming raised its position in Global Ship Lease by 6.6% during the third quarter. State of Wyoming now owns 25,374 shares of the shipping company’s stock valued at $779,000 after purchasing an additional 1,572 shares in the last quarter. Ballentine Partners LLC bought a new stake in Global Ship Lease during the third quarter worth $234,000. ARGA Investment Management LP lifted its stake in Global Ship Lease by 192.2% during the third quarter. ARGA Investment Management LP now owns 53,602 shares of the shipping company’s stock worth $1,646,000 after purchasing an additional 35,258 shares during the last quarter. Finally, Capital Advisory Group Advisory Services LLC boosted its holdings in shares of Global Ship Lease by 7.8% in the 3rd quarter. Capital Advisory Group Advisory Services LLC now owns 50,884 shares of the shipping company’s stock valued at $1,562,000 after purchasing an additional 3,692 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Trading Up 3.0%

Shares of GSL stock opened at $36.61 on Monday. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $38.52. The stock’s fifty day simple moving average is $35.59 and its 200 day simple moving average is $32.55. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.31 billion, a P/E ratio of 3.29 and a beta of 0.93.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. The firm had revenue of $192.67 million for the quarter, compared to analyst estimates of $180.36 million. Global Ship Lease had a return on equity of 23.98% and a net margin of 53.62%.Global Ship Lease’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.