WealthCollab LLC Acquires 1,021 Shares of Global Ship Lease, Inc. (NYSE:GSL)

WealthCollab LLC lifted its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 64.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,615 shares of the shipping company’s stock after acquiring an additional 1,021 shares during the period. WealthCollab LLC’s holdings in Global Ship Lease were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Boothbay Fund Management LLC bought a new position in Global Ship Lease in the 4th quarter worth approximately $224,000. Nebula Research & Development LLC purchased a new position in shares of Global Ship Lease in the fourth quarter worth $466,000. Stifel Financial Corp bought a new position in shares of Global Ship Lease during the fourth quarter worth $342,000. State of Tennessee Department of Treasury grew its stake in Global Ship Lease by 89.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 67,860 shares of the shipping company’s stock valued at $1,481,000 after acquiring an additional 32,112 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Global Ship Lease by 12.9% during the fourth quarter. Jump Financial LLC now owns 55,908 shares of the shipping company’s stock valued at $1,220,000 after acquiring an additional 6,395 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Stock Performance

NYSE GSL opened at $21.42 on Wednesday. The business’s 50 day moving average price is $21.70 and its 200-day moving average price is $22.26. Global Ship Lease, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $30.32. The company has a market cap of $759.13 million, a P/E ratio of 2.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The business had revenue of $182.43 million during the quarter, compared to the consensus estimate of $170.71 million. Sell-side analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 8.40%. Global Ship Lease’s payout ratio is 18.50%.

Analyst Ratings Changes

GSL has been the subject of several research reports. Clarkson Capital raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Jefferies Financial Group reissued a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

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.