Harbor Capital Advisors Inc. Buys 301,280 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Harbor Capital Advisors Inc. boosted its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 147.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 506,085 shares of the shipping company's stock after purchasing an additional 301,280 shares during the period. Global Ship Lease comprises 0.6% of Harbor Capital Advisors Inc.'s investment portfolio, making the stock its 28th biggest position. Harbor Capital Advisors Inc. owned approximately 1.44% of Global Ship Lease worth $13,487,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GSL. Janney Montgomery Scott LLC raised its stake in shares of 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 worth $584,000 after purchasing an additional 2,703 shares during the period. GSA Capital Partners LLP boosted its stake 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 valued at $1,267,000 after acquiring an additional 3,941 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of Global Ship Lease during the 1st quarter valued at approximately $271,000. Isthmus Partners LLC increased its stake in shares of Global Ship Lease by 47.6% during the 1st quarter. Isthmus Partners LLC now owns 141,493 shares of the shipping company's stock worth $2,872,000 after purchasing an additional 45,613 shares during the last quarter. Finally, Foundry Partners LLC increased its stake in shares of Global Ship Lease by 4.8% during the 1st quarter. Foundry Partners LLC now owns 315,468 shares of the shipping company's stock worth $6,404,000 after purchasing an additional 14,529 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group reissued a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a report on Monday, August 5th. StockNews.com downgraded Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, October 25th. Finally, Clarkson Capital upgraded Global Ship Lease from a "neutral" rating to a "buy" rating in a research note on Thursday, August 8th.

Global Ship Lease Stock Performance

GSL stock traded up $0.21 during midday trading on Friday, reaching $24.06. 345,834 shares of the company's stock traded hands, compared to its average volume of 278,431. Global Ship Lease, Inc. has a 52 week low of $16.80 and a 52 week high of $30.32. The company has a 50-day moving average price of $24.65 and a two-hundred day moving average price of $25.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The firm has a market capitalization of $886.85 million, a PE ratio of 2.63 and a beta of 1.62.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.27 by $0.19. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $172.07 million. During the same quarter last year, the company earned $2.09 EPS. As a group, equities analysts anticipate that Global Ship Lease, Inc. will post 9.85 EPS for the current year.

Global Ship Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.48%. This is an increase from Global Ship Lease's previous quarterly dividend of $0.38. The ex-dividend date was Friday, August 23rd. Global Ship Lease's dividend payout ratio (DPR) is presently 16.39%.

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.