Janney Montgomery Scott LLC Buys 50,660 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Janney Montgomery Scott LLC boosted its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 126.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,840 shares of the shipping company's stock after acquiring an additional 50,660 shares during the period. Janney Montgomery Scott LLC owned 0.26% of Global Ship Lease worth $2,421,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its holdings in shares of 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 worth $51,434,000 after acquiring an additional 969,536 shares during the period. Whitefort Capital Management LP boosted its stake in Global Ship Lease by 4.2% in the 1st quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company's stock valued at $40,138,000 after purchasing an additional 79,743 shares during the period. Acadian Asset Management LLC grew its holdings in Global Ship Lease by 3,779.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company's stock valued at $43,406,000 after buying an additional 1,470,002 shares in the last quarter. Marshall Wace LLP increased its position in Global Ship Lease by 275.5% during the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company's stock worth $30,763,000 after buying an additional 783,963 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Global Ship Lease by 97.9% during the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company's stock worth $16,037,000 after buying an additional 275,500 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company's stock.

Global Ship Lease Price Performance

Shares of NYSE:GSL traded up $0.15 during trading on Tuesday, reaching $23.41. 158,902 shares of the company traded hands, compared to its average volume of 558,025. The firm has a market capitalization of $862.94 million, a PE 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 company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The company's 50 day moving average is $24.55 and its two-hundred day moving average is $25.95.

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

Global Ship Lease Dividend Announcement

The company 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 $0.45 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.69%. Global Ship Lease's dividend payout ratio (DPR) is 16.39%.

Analysts Set New Price Targets

GSL has been the topic of several research reports. 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. Jefferies Financial Group restated a "buy" rating and set a $29.00 target price on shares of Global Ship Lease in a research report on Monday. Finally, Clarkson Capital raised shares of Global Ship Lease from a "neutral" rating to a "buy" rating in a report on Thursday, August 8th.

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.