Charles Schwab Investment Management Inc. Decreases Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Charles Schwab Investment Management Inc. trimmed its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 49.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,772 shares of the shipping company's stock after selling 16,506 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Global Ship Lease were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GSL. Public Employees Retirement System of Ohio acquired a new stake in Global Ship Lease in the third quarter worth $1,441,000. Point72 Asset Management L.P. acquired a new stake in shares of Global Ship Lease in the 3rd quarter valued at about $712,000. DGS Capital Management LLC increased its position in Global Ship Lease by 125.1% in the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company's stock valued at $1,008,000 after buying an additional 25,651 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Global Ship Lease during the 3rd quarter worth approximately $579,000. Finally, Crescent Grove Advisors LLC boosted its holdings in Global Ship Lease by 215.6% in the fourth quarter. Crescent Grove Advisors LLC now owns 29,789 shares of the shipping company's stock worth $650,000 after acquiring an additional 20,349 shares in the last quarter. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Down 7.7 %

Shares of Global Ship Lease stock traded down $1.61 on Friday, hitting $19.26. The company had a trading volume of 1,035,797 shares, compared to its average volume of 469,134. Global Ship Lease, Inc. has a 1 year low of $18.96 and a 1 year high of $30.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The stock has a 50 day moving average of $22.44 and a 200-day moving average of $22.94. The stock has a market capitalization of $682.71 million, a price-to-earnings ratio of 2.13 and a beta of 1.21.

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Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.25. The business had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. As a group, sell-side 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. Investors of record on Monday, February 24th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 9.35%. The ex-dividend date was Monday, February 24th. Global Ship Lease's dividend payout ratio (DPR) is presently 18.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GSL shares. Jefferies Financial Group restated a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a report on Wednesday, March 5th. StockNews.com lowered shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Clarkson Capital raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th.

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.