Jump Financial LLC lifted its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 206.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,420 shares of the shipping company’s stock after purchasing an additional 36,670 shares during the quarter. Jump Financial LLC owned 0.15% of Global Ship Lease worth $1,065,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in GSL. Citigroup Inc. bought a new stake in shares of Global Ship Lease in the 2nd quarter valued at about $78,000. Morgan Stanley increased its stake in Global Ship Lease by 479.2% in the 1st quarter. Morgan Stanley now owns 5,804 shares of the shipping company’s stock worth $82,000 after purchasing an additional 4,802 shares during the period. BlackRock Inc. lifted its position in Global Ship Lease by 106.3% in the first quarter. BlackRock Inc. now owns 6,095 shares of the shipping company’s stock valued at $86,000 after purchasing an additional 3,141 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Global Ship Lease during the second quarter valued at approximately $199,000. Finally, Advisory Services Network LLC bought a new position in shares of Global Ship Lease in the first quarter worth approximately $150,000. 57.50% of the stock is currently owned by hedge funds and other institutional investors.
GSL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Global Ship Lease in a report on Friday, July 16th. They issued a “buy” rating and a $23.00 price target on the stock. TheStreet upgraded Global Ship Lease from a “c” rating to a “b-” rating in a report on Monday, August 16th. Zacks Investment Research cut Global Ship Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 6th. Finally, B. Riley boosted their target price on Global Ship Lease from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, June 18th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.00.
Global Ship Lease (NYSE:GSL) last posted its earnings results on Thursday, August 5th. The shipping company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. Global Ship Lease had a return on equity of 14.12% and a net margin of 21.69%. The firm had revenue of $82.87 million for the quarter, compared to the consensus estimate of $79.41 million. Research analysts anticipate that Global Ship Lease, Inc. will post 3.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Monday, August 23rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, August 20th. Global Ship Lease’s dividend payout ratio (DPR) is presently 53.48%.
Global Ship Lease Company Profile
Global Ship Lease, Inc is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. It also focuses on the operation and technical management of each vessel, such as crewing, provision of lubricating oils, maintaining the vessel, periodic dry docking, and performing work required by regulations.
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