Global Ship Lease, Inc. (NYSE:GSL) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lowered its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 37.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,422 shares of the shipping company's stock after selling 37,843 shares during the period. ExodusPoint Capital Management LP owned approximately 0.17% of Global Ship Lease worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its position in Global Ship Lease by 2.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 519,913 shares of the shipping company's stock valued at $11,350,000 after purchasing an additional 13,828 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Global Ship Lease by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company's stock worth $10,422,000 after buying an additional 8,890 shares during the last quarter. State Street Corp raised its position in shares of Global Ship Lease by 1.2% in the 3rd quarter. State Street Corp now owns 276,415 shares of the shipping company's stock valued at $7,366,000 after purchasing an additional 3,346 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of Global Ship Lease by 46.7% in the fourth quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company's stock worth $4,010,000 after buying an additional 58,470 shares during the last quarter. Finally, Isthmus Partners LLC lifted its position in Global Ship Lease by 1.3% during the 4th 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 period. Hedge funds and other institutional investors own 50.08% of the company's stock.

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Analysts Set New Price Targets

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

Global Ship Lease Trading Down 0.3 %

GSL stock traded down $0.06 during trading on Tuesday, reaching $20.27. 96,057 shares of the stock were exchanged, compared to its average volume of 465,496. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $30.32. The firm has a market capitalization of $718.51 million, a price-to-earnings ratio of 2.24 and a beta of 1.21. The business has a 50 day moving average price of $22.07 and a 200-day moving average price of $22.61. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38.

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

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.88%. The ex-dividend date was Monday, February 24th. Global Ship Lease's payout ratio is 18.50%.

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.