Corient Private Wealth LLC Acquires New Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Corient Private Wealth LLC purchased a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,966 shares of the shipping company's stock, valued at approximately $305,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Global Ship Lease in the fourth quarter valued at about $37,000. Steward Partners Investment Advisory LLC bought a new stake in Global Ship Lease in the 4th quarter worth about $46,000. R Squared Ltd purchased a new stake in Global Ship Lease in the 4th quarter valued at about $50,000. Quarry LP lifted its position in shares of Global Ship Lease by 75.0% during the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company's stock worth $93,000 after buying an additional 1,498 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Global Ship Lease by 35.8% in the 4th quarter. Blue Trust Inc. now owns 15,196 shares of the shipping company's stock worth $332,000 after buying an additional 4,010 shares during the last quarter. 50.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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Global Ship Lease Stock Performance

Shares of GSL stock traded down $1.61 during trading hours on Friday, hitting $19.26. 1,035,797 shares of the company were exchanged, compared to its average volume of 469,134. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $682.71 million, a price-to-earnings ratio of 2.13 and a beta of 1.21. The firm has a fifty day simple moving average of $22.44 and a 200 day simple moving average of $22.94. Global Ship Lease, Inc. has a 52-week low of $18.96 and a 52-week high of $30.32.

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

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 9.35%. The ex-dividend date of this dividend 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.