ARGA Investment Management LP Sells 30,579 Shares of Global Ship Lease, Inc. (NYSE:GSL)

ARGA Investment Management LP lowered its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 61.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,590 shares of the shipping company's stock after selling 30,579 shares during the period. ARGA Investment Management LP owned approximately 0.05% of Global Ship Lease worth $428,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GSL. Simplicity Wealth LLC raised its position in shares of Global Ship Lease by 3.2% in the 3rd quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company's stock worth $433,000 after purchasing an additional 505 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Global Ship Lease by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company's stock worth $883,000 after purchasing an additional 700 shares during the last quarter. Quarry LP raised its position in shares of Global Ship Lease by 75.0% in the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company's stock worth $93,000 after purchasing an additional 1,498 shares during the last quarter. R Squared Ltd purchased a new position in shares of Global Ship Lease in the 4th quarter worth about $50,000. Finally, Janus Henderson Group PLC raised its position in shares of Global Ship Lease by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 46,179 shares of the shipping company's stock worth $1,231,000 after purchasing an additional 2,478 shares during the last quarter. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Down 0.1 %

Shares of Global Ship Lease stock traded down $0.03 on Friday, reaching $21.61. The company's stock had a trading volume of 188,832 shares, compared to its average volume of 289,989. Global Ship Lease, Inc. has a 52 week low of $18.75 and a 52 week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm's fifty day simple moving average is $21.79 and its two-hundred day simple moving average is $23.70. The company has a market capitalization of $796.54 million, a price-to-earnings ratio of 2.39 and a beta of 1.53.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The company had revenue of $174.06 million for the quarter, compared to analysts' expectations of $175.83 million. During the same quarter last year, the company posted $2.33 earnings per share. Equities analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Friday, November 22nd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.33%. The ex-dividend date was Friday, November 22nd. Global Ship Lease's dividend payout ratio is currently 19.93%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GSL shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a research report on Monday, November 11th. StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a report on Friday, October 25th. Finally, Clarkson Capital lowered Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 target price for the company. in a report on Thursday, November 14th.

Global Ship Lease Profile

Global Ship Lease, Inc, together with its subsidiaries, engages in owning and chartering of containerships under fixed-rate charters to container shipping companies worldwide. As of March 11, 2024, it owned 68 mid-sized and smaller containerships, ranging from 2,207 to 11,040 twenty-foot equivalent unit (TEU), with an aggregate capacity of 375,406 TEU.