Dynamic Technology Lab Private Ltd Sells 21,566 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Dynamic Technology Lab Private Ltd cut its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 69.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,426 shares of the shipping company's stock after selling 21,566 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Global Ship Lease were worth $206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Global Ship Lease during the fourth quarter valued at about $37,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Global Ship Lease during the fourth quarter valued at about $46,000. R Squared Ltd purchased a new stake in shares of Global Ship Lease in the 4th quarter valued at approximately $50,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Global Ship Lease in the 4th quarter worth approximately $133,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Stock Up 1.3 %

Global Ship Lease stock traded up $0.26 during mid-day trading on Thursday, reaching $20.43. 50,058 shares of the company's stock were exchanged, compared to its average volume of 461,377. 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, Inc. has a twelve month low of $17.73 and a twelve month high of $30.32. The company has a market cap of $724.15 million, a P/E ratio of 2.27 and a beta of 1.21. The company has a fifty day moving average of $22.02 and a 200-day moving average of $22.58.

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 (EPS) 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 for the quarter, compared to analysts' expectations of $170.71 million. Sell-side analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.81%. Global Ship Lease's payout ratio is 18.50%.

Analyst Ratings Changes

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

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.