Sei Investments Co. Trims Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Sei Investments Co. decreased its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 19.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,643 shares of the shipping company's stock after selling 20,015 shares during the period. Sei Investments Co. owned approximately 0.23% of Global Ship Lease worth $1,826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GSL. SBI Securities Co. Ltd. purchased a new stake in Global Ship Lease in the fourth quarter worth about $37,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Global Ship Lease during the fourth quarter valued at approximately $46,000. R Squared Ltd purchased a new stake in Global Ship Lease in the fourth quarter worth $50,000. Quarry LP lifted its position in Global Ship Lease by 75.0% during the third quarter. Quarry LP now owns 3,495 shares of the shipping company's stock valued at $93,000 after buying an additional 1,498 shares during the period. Finally, Corient Private Wealth LLC purchased a new position in Global Ship Lease during the fourth quarter valued at $305,000. Hedge funds and other institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Down 2.9 %

Global Ship Lease stock traded down $0.57 during mid-day trading on Thursday, reaching $18.93. The stock had a trading volume of 554,689 shares, compared to its average volume of 469,837. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $30.32. The company has a 50-day moving average price of $22.14 and a two-hundred day moving average price of $22.72. The company has a market capitalization of $671.01 million, a price-to-earnings ratio of 2.10 and a beta of 1.21. 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 announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.25. The company had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 9.51%. Global Ship Lease's dividend payout ratio (DPR) is presently 18.50%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GSL shares. Clarkson Capital upgraded shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. StockNews.com downgraded shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $29.00 target price on shares of Global Ship Lease in a report on Wednesday, March 5th.

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.