Crescent Grove Advisors LLC increased its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 215.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,789 shares of the shipping company's stock after acquiring an additional 20,349 shares during the period. Crescent Grove Advisors LLC owned about 0.08% of Global Ship Lease worth $650,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the business. Quarry LP increased its stake in shares of Global Ship Lease by 75.0% in the third quarter. Quarry LP now owns 3,495 shares of the shipping company's stock valued at $93,000 after buying an additional 1,498 shares during the period. U S Global Investors Inc. purchased a new stake in Global Ship Lease in the 3rd quarter valued at about $150,000. Ballentine Partners LLC purchased a new position in shares of Global Ship Lease in the 3rd quarter worth about $213,000. Blue Trust Inc. lifted its position in shares of Global Ship Lease by 257.8% during the 3rd quarter. Blue Trust Inc. now owns 11,186 shares of the shipping company's stock valued at $322,000 after buying an additional 8,060 shares during the last quarter. Finally, Creative Planning bought a new position in Global Ship Lease in the 2nd quarter worth approximately $369,000. Institutional investors own 50.08% of the company's stock.
Global Ship Lease Price Performance
Shares of NYSE GSL traded down $0.32 during mid-day trading on Friday, reaching $21.11. The company's stock had a trading volume of 348,089 shares, compared to its average volume of 259,149. The stock has a fifty day moving average of $21.96 and a two-hundred day moving average of $23.99. Global Ship Lease, Inc. has a 52 week low of $18.75 and a 52 week high of $30.32. The firm has a market capitalization of $778.19 million, a PE ratio of 2.34 and a beta of 1.55. 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 announced its quarterly earnings data 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. The business had revenue of $174.06 million during the quarter, compared to the consensus estimate of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same quarter last year, the firm earned $2.33 earnings per share. As a group, sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.79 EPS for the current fiscal year.
Global Ship Lease Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.53%. The ex-dividend date of this dividend was Friday, November 22nd. Global Ship Lease's dividend payout ratio is presently 19.93%.
Wall Street Analysts Forecast Growth
GSL has been the subject of a number of research reports. StockNews.com cut shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 25th. 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 Monday, November 11th. 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.
Check Out Our Latest Analysis on GSL
About Global Ship Lease
(
Free Report)
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.
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