26,700 Shares in Global Ship Lease, Inc. (NYSE:GSL) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,700 shares of the shipping company's stock, valued at approximately $712,000. Point72 Asset Management L.P. owned 0.07% of Global Ship Lease as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its holdings in Global Ship Lease by 14.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company's stock worth $49,503,000 after buying an additional 229,623 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of 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 in the last quarter. Marshall Wace LLP grew its holdings in shares of Global Ship Lease by 275.5% in 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 period. Renaissance Technologies LLC grew its holdings in shares of Global Ship Lease by 97.9% in 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 period. Finally, Harbor Capital Advisors Inc. increased its stake in Global Ship Lease by 147.1% in the 3rd 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 in the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on GSL shares. Jefferies Financial Group reissued a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a report on Monday, November 11th. 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 cut shares of Global Ship Lease from a "buy" rating to a "neutral" rating and set a $27.00 target price for the company. in a research report on Thursday, November 14th.

Global Ship Lease Price Performance

Global Ship Lease stock traded up $0.07 during mid-day trading on Thursday, hitting $21.85. 332,662 shares of the company were exchanged, compared to its average volume of 547,652. Global Ship Lease, Inc. has a 12-month low of $17.69 and a 12-month high of $30.32. The company has a market capitalization of $805.25 million, a P/E ratio of 2.42 and a beta of 1.55. The business's 50 day simple moving average is $23.63 and its two-hundred day simple moving average is $25.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million during the quarter, compared to analysts' expectations of $175.83 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. During the same quarter last year, the business posted $2.33 EPS. Analysts forecast that Global Ship Lease, Inc. will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Friday, November 22nd were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.24%. The ex-dividend date was Friday, November 22nd. Global Ship Lease's payout ratio is 19.93%.

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.