Donald Smith & CO. Inc. Boosts Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

Donald Smith & CO. Inc. boosted its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,857,529 shares of the shipping company's stock after acquiring an additional 229,623 shares during the period. Donald Smith & CO. Inc. owned 5.04% of Global Ship Lease worth $49,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in Global Ship Lease by 10.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company's stock valued at $584,000 after buying an additional 2,703 shares during the period. GSA Capital Partners LLP grew its position in Global Ship Lease by 6.7% in the first quarter. GSA Capital Partners LLP now owns 62,426 shares of the shipping company's stock worth $1,267,000 after acquiring an additional 3,941 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of Global Ship Lease in the 1st quarter valued at approximately $271,000. Isthmus Partners LLC grew its stake in Global Ship Lease by 47.6% in the 1st quarter. Isthmus Partners LLC now owns 141,493 shares of the shipping company's stock valued at $2,872,000 after buying an additional 45,613 shares during the last quarter. Finally, Foundry Partners LLC boosted its holdings in Global Ship Lease by 4.8% during the first quarter. Foundry Partners LLC now owns 315,468 shares of the shipping company's stock valued at $6,404,000 after acquiring an additional 14,529 shares during the period. Institutional investors and hedge funds own 50.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GSL shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, August 5th. 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. Finally, Clarkson Capital raised shares of Global Ship Lease from a "neutral" rating to a "buy" rating in a research note on Thursday, August 8th.

Global Ship Lease Stock Down 0.4 %

Shares of GSL traded down $0.10 during mid-day trading on Wednesday, hitting $23.23. 369,671 shares of the company's stock were exchanged, compared to its average volume of 564,375. The company has a 50-day simple moving average of $24.78 and a 200 day simple moving average of $25.80. 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 cap of $817.42 million, a PE ratio of 2.64 and a beta of 1.60. Global Ship Lease, Inc. has a 52 week low of $16.80 and a 52 week high of $30.32.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.27 by $0.19. The company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $172.07 million. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same quarter in the prior year, the firm posted $2.09 EPS. On average, research analysts forecast that Global Ship Lease, Inc. will post 9.9 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 23rd. This is a boost from Global Ship Lease's previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a yield of 7.75%. Global Ship Lease's dividend payout ratio is presently 16.95%.

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.