Global Ship Lease, Inc. (NYSE:GSL) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 83.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,190 shares of the shipping company's stock after selling 975,037 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.54% of Global Ship Lease worth $4,348,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GSL. Harbor Capital Advisors Inc. lifted its holdings in Global Ship Lease by 2.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 519,913 shares of the shipping company's stock valued at $11,350,000 after acquiring an additional 13,828 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Global Ship Lease by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company's stock worth $10,422,000 after buying an additional 8,890 shares in the last quarter. State Street Corp raised its holdings in Global Ship Lease by 1.2% in the 3rd quarter. State Street Corp now owns 276,415 shares of the shipping company's stock valued at $7,366,000 after acquiring an additional 3,346 shares during the last quarter. Isthmus Partners LLC lifted its position in Global Ship Lease by 1.3% during the fourth quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company's stock worth $2,463,000 after buying an additional 1,460 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Global Ship Lease during the fourth quarter worth about $1,238,000. Institutional investors and hedge funds own 50.08% of the company's stock.

Remove Ads

Global Ship Lease Stock Up 2.8 %

Shares of NYSE GSL traded up $0.57 during midday trading on Monday, hitting $20.41. The company's stock had a trading volume of 62,788 shares, compared to its average volume of 465,623. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $30.32. The business's fifty day simple moving average is $22.10 and its two-hundred day simple moving average is $22.65. The firm has a market capitalization of $723.30 million, a price-to-earnings ratio of 2.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.30 by $0.25. The company had revenue of $182.43 million during the quarter, compared to analysts' expectations of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, equities analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.82%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease's payout ratio is presently 18.50%.

Analysts Set New Price Targets

GSL has been the topic of several research analyst reports. Clarkson Capital upgraded shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com downgraded shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a report on Friday, March 7th. Finally, Jefferies Financial Group restated a "buy" rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th.

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.