Penn 115 is a oldie but goodie. They are a very good starter reel which will handle surprisingly large sharks. Drawbacks are single speed, and bulky.
I wouldn't use a GLD if you paid me
.......Much better reel for the money is a TLD 50 2 speed/ Shimano is the best IMHO for the buck.
Another good alternative on the cheap side is a Diawa 900H........poweful star drag reel similar to 115.