GSA Capital Partners LLP Raises Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

GSA Capital Partners LLP raised its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 62.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,391 shares of the shipping company's stock after buying an additional 66,714 shares during the period. Global Ship Lease accounts for 0.3% of GSA Capital Partners LLP's investment portfolio, making the stock its 5th biggest holding. GSA Capital Partners LLP owned 0.47% of Global Ship Lease worth $4,621,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its holdings in Global Ship Lease by 10.4% during the first quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company's stock worth $584,000 after buying an additional 2,703 shares during the last quarter. Inspire Advisors LLC purchased a new position in Global Ship Lease in the first quarter valued at approximately $271,000. Foundry Partners LLC lifted its stake in Global Ship Lease by 4.8% in the first quarter. Foundry Partners LLC now owns 315,468 shares of the shipping company's stock valued at $6,404,000 after purchasing an additional 14,529 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in Global Ship Lease by 62.0% during the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company's stock valued at $51,434,000 after purchasing an additional 969,536 shares during the period. Finally, MQS Management LLC purchased a new stake in Global Ship Lease in the first quarter worth $253,000. Institutional investors own 50.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GSL shares. 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 Monday. StockNews.com lowered shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 25th. Finally, Clarkson Capital raised shares of Global Ship Lease from a "neutral" rating to a "buy" rating in a report on Thursday, August 8th.

Global Ship Lease Price Performance

NYSE GSL traded down $0.03 during trading hours on Tuesday, hitting $23.23. The company had a trading volume of 495,694 shares, compared to its average volume of 559,622. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The firm has a market capitalization of $856.30 million, a price-to-earnings ratio of 2.54 and a beta of 1.62. Global Ship Lease, Inc. has a 52 week low of $17.00 and a 52 week high of $30.32. The firm has a 50 day simple moving average of $24.55 and a 200 day simple moving average of $25.95.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. The company had revenue of $174.06 million during the quarter, compared to analyst estimates of $175.83 million. During the same period last year, the business earned $2.33 earnings per share. Equities research analysts expect that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.75%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease's dividend payout ratio is 16.39%.

About Global Ship Lease

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.