Jefferies Financial Group Reaffirms "Buy" Rating for Global Ship Lease (NYSE:GSL)

Global Ship Lease (NYSE:GSL - Get Free Report)'s stock had its "buy" rating reissued by Jefferies Financial Group in a report issued on Monday,Benzinga reports. They presently have a $29.00 price target on the shipping company's stock. Jefferies Financial Group's target price would indicate a potential upside of 25.38% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Clarkson Capital raised shares of Global Ship Lease from a "neutral" rating to a "buy" rating in a research note on Thursday, August 8th. StockNews.com cut shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 25th.

Global Ship Lease Price Performance

Shares of NYSE:GSL traded down $1.45 during midday trading on Monday, reaching $23.13. The company's stock had a trading volume of 440,717 shares, compared to its average volume of 558,391. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. The company has a market capitalization of $852.62 million, a P/E ratio of 2.53 and a beta of 1.62. The business's fifty day simple moving average is $24.58 and its 200-day simple moving average is $25.94. Global Ship Lease has a fifty-two week low of $17.00 and a fifty-two week high of $30.32.

Hedge Funds Weigh In On Global Ship Lease

A number of large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its stake in Global Ship Lease by 3,779.3% in the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company's stock valued at $43,406,000 after purchasing an additional 1,470,002 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in Global Ship Lease by 62.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company's stock valued at $51,434,000 after acquiring an additional 969,536 shares during the period. Marshall Wace LLP raised its position in 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 in the last quarter. Harbor Capital Advisors Inc. raised its position 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 period. Finally, Renaissance Technologies LLC grew its position in Global Ship Lease by 97.9% in the 2nd quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company's stock valued at $16,037,000 after buying an additional 275,500 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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