Foundry Partners LLC grew its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 45.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 475,956 shares of the shipping company's stock after buying an additional 148,247 shares during the quarter. Foundry Partners LLC owned 1.29% of Global Ship Lease worth $12,684,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Global Ship Lease during the second quarter worth $2,130,000. Janney Montgomery Scott LLC lifted its stake in Global Ship Lease by 126.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company's stock valued at $2,421,000 after buying an additional 50,660 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Global Ship Lease by 275.5% during the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company's stock valued at $30,763,000 after acquiring an additional 783,963 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Global Ship Lease by 780.1% in the second quarter. Sei Investments Co. now owns 103,658 shares of the shipping company's stock worth $2,984,000 after acquiring an additional 91,880 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Global Ship Lease by 147.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company's stock valued at $13,487,000 after purchasing an additional 301,280 shares during the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.
Global Ship Lease Price Performance
Shares of GSL opened at $23.31 on Thursday. The company has a market cap of $859.21 million, a P/E ratio of 2.58 and a beta of 1.62. Global Ship Lease, Inc. has a fifty-two week low of $17.47 and a fifty-two week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm's 50 day moving average price is $24.57 and its 200 day moving average price is $25.96.
Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The company had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same quarter last year, the company earned $2.33 EPS. On average, research analysts forecast that Global Ship Lease, Inc. will post 9.85 earnings per share for the current fiscal year.
Global Ship Lease Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.72%. Global Ship Lease's payout ratio is currently 16.61%.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Clarkson Capital cut shares of Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 price objective for the company. in a research note on Thursday, November 14th. StockNews.com downgraded shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, November 11th.
View Our Latest Analysis on Global Ship Lease
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.
See Also
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