Donald Smith & CO. Inc. Buys 1,281,941 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Donald Smith & CO. Inc. raised its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 69.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,139,470 shares of the shipping company's stock after purchasing an additional 1,281,941 shares during the period. Global Ship Lease accounts for 1.6% of Donald Smith & CO. Inc.'s portfolio, making the stock its 27th largest holding. Donald Smith & CO. Inc. owned 8.52% of Global Ship Lease worth $68,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Isthmus Partners LLC grew its stake in shares of Global Ship Lease by 1.3% in the fourth quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company's stock worth $2,463,000 after acquiring an additional 1,460 shares during the last quarter. Quarry LP grew its position in Global Ship Lease by 75.0% in the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company's stock worth $93,000 after purchasing an additional 1,498 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Global Ship Lease by 6,856.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock worth $36,000 after purchasing an additional 1,577 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Global Ship Lease during the 4th quarter worth about $37,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Global Ship Lease during the fourth quarter valued at about $46,000. Institutional investors own 50.08% of the company's stock.

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Global Ship Lease Price Performance

Global Ship Lease stock traded down $0.58 during trading hours on Tuesday, hitting $18.45. 255,053 shares of the stock were exchanged, compared to its average volume of 391,671. The stock has a market capitalization of $654.00 million, a P/E ratio of 2.04 and a beta of 1.21. The business's 50-day moving average is $22.39 and its two-hundred day moving average is $22.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease, Inc. has a 12 month low of $18.36 and a 12 month high of $30.32.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $170.71 million. Equities research analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a $0.45 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 9.76%. Global Ship Lease's payout ratio is 18.50%.

Analyst Upgrades and Downgrades

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