B. Riley Financial Inc. decreased its holdings in Global Ship Lease Inc (NYSE:GSL) by 84.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,264 shares of the shipping company’s stock after selling 353,650 shares during the period. Global Ship Lease comprises 0.1% of B. Riley Financial Inc.’s portfolio, making the stock its 25th largest holding. B. Riley Financial Inc. owned about 0.65% of Global Ship Lease worth $372,000 as of its most recent SEC filing.
Separately, Clear Harbor Asset Management LLC bought a new position in Global Ship Lease during the first quarter worth about $101,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Clarkson Capital assumed coverage on Global Ship Lease in a research report on Tuesday, April 9th. They issued a “buy” rating and a $9.00 target price on the stock. ValuEngine lowered Global Ship Lease from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 1st. Finally, Zacks Investment Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 target price on the stock in a research report on Monday, June 3rd.
Shares of NYSE:GSL traded up $0.18 during trading on Wednesday, hitting $7.45. 11,500 shares of the company were exchanged, compared to its average volume of 13,722. The stock has a market capitalization of $70.43 million, a PE ratio of 4.23, a price-to-earnings-growth ratio of 0.78 and a beta of 0.88. Global Ship Lease Inc has a fifty-two week low of $4.00 and a fifty-two week high of $11.20. The firm has a fifty day simple moving average of $6.83. The company has a current ratio of 1.08, a quick ratio of 1.03 and a debt-to-equity ratio of 2.44.
Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Tuesday, May 7th. The shipping company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06. Global Ship Lease had a positive return on equity of 7.52% and a negative net margin of 28.19%. The firm had revenue of $64.51 million for the quarter. As a group, sell-side analysts predict that Global Ship Lease Inc will post 1.87 EPS for the current fiscal year.
Global Ship Lease Company Profile
Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of December 31, 2018, it owned 38 vessels with a total capacity of 200,615 twenty-foot equivalent units. The company is based in London, the United Kingdom.
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