Cerity Partners LLC Makes New $286,000 Investment in Global Ship Lease, Inc. (NYSE:GSL)

Cerity Partners LLC purchased a new stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 13,123 shares of the shipping company's stock, valued at approximately $286,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Global Ship Lease by 1.2% during the 3rd quarter. State Street Corp now owns 276,415 shares of the shipping company's stock worth $7,366,000 after buying an additional 3,346 shares during the period. DGS Capital Management LLC boosted its position in Global Ship Lease by 121.1% in the third quarter. DGS Capital Management LLC now owns 20,507 shares of the shipping company's stock valued at $547,000 after buying an additional 11,233 shares in the last quarter. JPMorgan Chase & Co. grew its position in Global Ship Lease by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company's stock worth $10,422,000 after acquiring an additional 8,890 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of 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 buying an additional 13,828 shares during the last quarter. Finally, BluePath Capital Management LLC lifted its holdings in Global Ship Lease by 30.6% during the 4th quarter. BluePath Capital Management LLC now owns 32,146 shares of the shipping company's stock worth $713,000 after buying an additional 7,535 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GSL. StockNews.com lowered shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a report on Friday, March 7th. Clarkson Capital upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Wednesday, March 5th.

Global Ship Lease Stock Performance

Shares of Global Ship Lease stock traded up $0.14 during trading on Friday, reaching $21.27. The company's stock had a trading volume of 159,997 shares, compared to its average volume of 446,455. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $30.32. The firm has a market cap of $754.06 million, a PE ratio of 2.36 and a beta of 1.21. The business's 50-day moving average price is $21.77 and its 200-day moving average price is $22.31. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

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

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.46%. The ex-dividend date was Monday, February 24th. Global Ship Lease's dividend payout ratio (DPR) is currently 18.50%.

Global Ship Lease Company 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.