Global Ship Lease (GSL) Debt Trading 2.5% Lower

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An issue of Global Ship Lease Inc (NYSE:GSL) debt fell 2.5% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 9.875% coupon and will mature on November 15, 2022. The debt is now trading at $95.50. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

Shares of GSL traded up $0.01 during midday trading on Wednesday, hitting $0.95. The company’s stock had a trading volume of 1,735,500 shares, compared to its average volume of 136,584. Global Ship Lease Inc has a one year low of $0.80 and a one year high of $1.94. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.38 and a current ratio of 1.43. The firm has a market cap of $47.86 million, a price-to-earnings ratio of 2.83 and a beta of 0.71.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Monday, July 30th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $35.01 million for the quarter. Global Ship Lease had a positive return on equity of 6.47% and a negative net margin of 59.00%.

An institutional investor recently raised its position in Global Ship Lease stock. Renaissance Technologies LLC increased its position in shares of Global Ship Lease Inc (NYSE:GSL) by 9.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,542,700 shares of the shipping company’s stock after acquiring an additional 128,000 shares during the period. Renaissance Technologies LLC owned about 2.81% of Global Ship Lease worth $2,036,000 at the end of the most recent reporting period. 5.66% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Company Profile (NYSE:GSL)

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