Global Ship Lease, Inc. (NYSE:GSL) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP grew its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 46.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,684 shares of the shipping company's stock after purchasing an additional 58,470 shares during the period. Trexquant Investment LP owned approximately 0.50% of Global Ship Lease worth $4,010,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CIBC Private Wealth Group LLC increased its stake in Global Ship Lease by 6,856.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after buying an additional 1,577 shares during the period. SBI Securities Co. Ltd. purchased a new position in Global Ship Lease in the fourth quarter worth $37,000. Steward Partners Investment Advisory LLC acquired a new stake in Global Ship Lease in the fourth quarter valued at $46,000. R Squared Ltd purchased a new stake in shares of Global Ship Lease during the 4th quarter worth $50,000. Finally, Quarry LP increased its holdings in shares of Global Ship Lease by 75.0% in the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company's stock valued at $93,000 after purchasing an additional 1,498 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company's stock.

Global Ship Lease Price Performance

Shares of NYSE GSL traded down $0.44 on Thursday, hitting $19.06. The company's stock had a trading volume of 157,161 shares, compared to its average volume of 404,876. The stock has a 50 day moving average of $22.18 and a 200-day moving average of $22.76. The company has a market capitalization of $675.58 million, a price-to-earnings ratio of 2.11 and a beta of 1.21. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $30.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

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Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results 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. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The company had revenue of $182.43 million during the quarter, compared to analysts' expectations of $170.71 million. As a group, research analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 9.44%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease's dividend payout ratio (DPR) is 18.50%.

Analyst Ratings Changes

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

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.