Global Ship Lease, Inc. (NYSE:GSL) Stake Lessened by Isthmus Partners LLC

Isthmus Partners LLC reduced its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,372 shares of the shipping company's stock after selling 30,062 shares during the period. Isthmus Partners LLC owned 0.30% of Global Ship Lease worth $2,968,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. boosted its position in Global Ship Lease by 14.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company's stock worth $49,503,000 after acquiring an additional 229,623 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Global Ship Lease by 3,779.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company's stock worth $43,406,000 after purchasing an additional 1,470,002 shares during the period. Marshall Wace LLP boosted 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 worth $30,763,000 after purchasing an additional 783,963 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Global Ship Lease by 97.9% in the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company's stock valued at $16,037,000 after purchasing an additional 275,500 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Global Ship Lease by 147.1% in the third 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GSL shares. StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 25th. Clarkson Capital cut shares of Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 target price on the stock. in a research report on Thursday, November 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday, November 11th.

Global Ship Lease Trading Down 0.1 %

GSL stock traded down $0.03 during trading on Friday, reaching $21.50. 269,252 shares of the stock traded hands, compared to its average volume of 553,525. The firm has a market capitalization of $792.49 million, a PE ratio of 2.38 and a beta of 1.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The business's 50 day moving average price is $24.24 and its 200-day moving average price is $25.85. Global Ship Lease, Inc. has a 52-week low of $17.69 and a 52-week high of $30.32.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same period in the previous year, the company posted $2.33 EPS. As a group, sell-side analysts forecast that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.37%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease's payout ratio is currently 19.93%.

Global Ship Lease Company 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.