Moran Wealth Management LLC Takes Position in Global Ship Lease, Inc. (NYSE:GSL)

Moran Wealth Management LLC purchased a new stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 108,590 shares of the shipping company's stock, valued at approximately $2,894,000. Moran Wealth Management LLC owned about 0.29% of Global Ship Lease as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC grew its position in 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 acquiring an additional 1,470,002 shares during the last quarter. Marshall Wace LLP grew 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 acquiring an additional 783,963 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Global Ship Lease by 147.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company's stock worth $13,487,000 after acquiring an additional 301,280 shares during the last quarter. Renaissance Technologies LLC grew its position in Global Ship Lease by 97.9% during the 2nd quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company's stock worth $16,037,000 after acquiring an additional 275,500 shares during the last quarter. Finally, Donald Smith & CO. Inc. grew its position in Global Ship Lease by 14.1% during the 3rd 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. Institutional investors own 50.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group restated a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, November 11th. StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 25th. Finally, Clarkson Capital lowered Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 price objective on the stock. in a research report on Thursday, November 14th.

Global Ship Lease Trading Down 0.6 %

Shares of NYSE GSL traded down $0.13 during trading on Friday, reaching $22.27. The company had a trading volume of 419,117 shares, compared to its average volume of 555,125. The company's fifty day moving average price is $24.55 and its 200-day moving average price is $25.94. Global Ship Lease, Inc. has a 12 month low of $17.69 and a 12 month high of $30.32. The stock has a market cap of $820.69 million, a P/E ratio of 2.53 and a beta of 1.62. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results 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 return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same quarter in the previous year, the company posted $2.33 EPS. As a group, 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. Stockholders of record on Friday, November 22nd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease's dividend payout ratio is 16.61%.

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.