Public Employees Retirement System of Ohio lifted its stake in shares of Global Ship Lease, Inc. (NYSE:GSL – Free Report) by 21.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 111,929 shares of the shipping company’s stock after buying an additional 19,838 shares during the period. Public Employees Retirement System of Ohio’s holdings in Global Ship Lease were worth $4,167,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of GSL. Royal Palms Capital LLC bought a new stake in Global Ship Lease in the fourth quarter valued at $3,665,000. SG Americas Securities LLC raised its stake in Global Ship Lease by 100.1% during the 4th quarter. SG Americas Securities LLC now owns 56,817 shares of the shipping company’s stock worth $1,991,000 after buying an additional 28,425 shares during the period. WINTON GROUP Ltd bought a new position in Global Ship Lease in the fourth quarter worth approximately $949,000. GSA Capital Partners LLP grew its stake in Global Ship Lease by 39.7% in the fourth quarter. GSA Capital Partners LLP now owns 50,016 shares of the shipping company’s stock valued at $1,753,000 after acquiring an additional 14,214 shares during the period. Finally, U S Global Investors Inc. increased its holdings in shares of Global Ship Lease by 220.4% during the first quarter. U S Global Investors Inc. now owns 18,690 shares of the shipping company’s stock valued at $696,000 after acquiring an additional 12,856 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.
Analyst Ratings Changes
Several research firms recently issued reports on GSL. Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. Zacks Research raised shares of Global Ship Lease from a “strong sell” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group started coverage on Global Ship Lease in a report on Friday, April 24th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $46.50.
Global Ship Lease Trading Down 0.7%
Shares of GSL stock opened at $43.31 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.26. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 4.11 and a beta of 0.90. Global Ship Lease, Inc. has a 52-week low of $27.28 and a 52-week high of $43.92. The company has a 50-day simple moving average of $39.28 and a two-hundred day simple moving average of $38.76.
Global Ship Lease (NYSE:GSL – Get Free Report) last announced its earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.16. The firm had revenue of $198.08 million for the quarter, compared to the consensus estimate of $182.87 million. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business’s revenue was up 3.7% compared to the same quarter last year. Research analysts anticipate that Global Ship Lease, Inc. will post 9.5 EPS for the current fiscal year.
Global Ship Lease Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were given a $0.625 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.50 annualized dividend and a yield of 5.8%. Global Ship Lease’s payout ratio is currently 23.74%.
Global Ship Lease Profile
Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.
The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.
Featured Articles
- Five stocks we like better than Global Ship Lease
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Want to see what other hedge funds are holding GSL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Ship Lease, Inc. (NYSE:GSL – Free Report).
Receive News & Ratings for Global Ship Lease Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Ship Lease and related companies with MarketBeat.com's FREE daily email newsletter.
