The stock of Global Ship Lease Inc (NYSE:GSL) hit a new 52-week high and has $5.54 target or 91.00% above today’s $2.90 share price. The 6 months bullish chart indicates low risk for the $198.96 million company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $5.54 price target is reached, the company will be worth $181.05M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 8.57M shares traded hands or 1559.98% up from the average. Global Ship Lease Inc (NYSE:GSL) has risen 51.52% since April 15, 2016 and is uptrending. It has outperformed by 46.89% the S&P500.
According to Zacks Investment Research, “GLOBAL SHIP LEASE is a rapidly growing containership charter owner. Incorporated in the Marshall Islands, Global Ship Lease commenced operations in December 2007 with a business of owning and chartering out containerships under long-term, fixed rate charters to world class container liner companies.”
Insitutional Activity: The institutional sentiment increased to 0.67 in 2016 Q2. Its up 0.26, from 0.41 in 2016Q1. The ratio improved, as 4 funds sold all Global Ship Lease Inc shares owned while 2 reduced positions. 2 funds bought stakes while 2 increased positions. They now own 2.76 million shares or 7.70% less from 2.99 million shares in 2016Q1.
California Public Employees Retirement Sys holds 0% or 96,000 shares in its portfolio. Mount Lucas Mngmt Lp last reported 50,000 shares in the company. Oxford Asset Mgmt holds 34,760 shares or 0% of its portfolio. Moreover, First Republic Investment Mngmt has 0% invested in Global Ship Lease Inc (NYSE:GSL) for 29,400 shares. The New York-based Jefferies Grp Ltd Liability has invested 0% in Global Ship Lease Inc (NYSE:GSL). Blackrock Institutional Tru Comm Na has 14,044 shares for 0% of their US portfolio. Bridgeway Cap Management accumulated 0.01% or 321,600 shares. Morgan Stanley holds 0% or 16,994 shares in its portfolio. Goldman Sachs Incorporated holds 0% of its portfolio in Global Ship Lease Inc (NYSE:GSL) for 10,061 shares. Franklin Res reported 550,000 shares or 0% of all its holdings. Wealthtrust Axiom Lc last reported 0.01% of its portfolio in the stock. Benchmark Cap holds 0.31% of its portfolio in Global Ship Lease Inc (NYSE:GSL) for 299,900 shares. Hillsdale Invest accumulated 71,400 shares or 0.03% of the stock. Tower Capital Llc (Trc) last reported 0% of its portfolio in the stock. Brown Brothers Harriman And holds 20,000 shares or 0% of its portfolio.
More notable recent Global Ship Lease Inc (NYSE:GSL) news were published by: Benzinga.com which released: “8 Stocks That Rallied Three Days On Increasing Volume” on November 17, 2016, also Marketwatch.com with their article: “Global Ship Lease’s stock soars 36% in premarket trade” published on December 21, 2009, Globenewswire.com published: “Global Ship Lease Announces Second Quarter 2016 Earnings Release, Conference …” on July 14, 2016. More interesting news about Global Ship Lease Inc (NYSE:GSL) were released by: Seekingalpha.com and their article: “Global Ship Lease: Irrational Fear And Loathing On Dividend Suspension” published on March 08, 2016 as well as Globenewswire.com‘s news article titled: “Global Ship Lease Announces Results of 2016 Annual Meeting of Shareholders” with publication date: August 18, 2016.
GSL Company Profile
Global Ship Lease, Inc., incorporated on March 14, 2008, is a holding firm and containership charter owner. The Company’s activity consists of the ownership and chartering out of containerships. The Firm owns a fleet of containerships with a range of sizes. The Company’s fleet consists of approximately 20 containerships, with a combined capacity of over 82,310 twenty-foot equivalent unit (TEU) and a weighted average age of approximately 11.0 years, and a non-weighted average age of over 11.3 years.
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