Punch & Associates Investment Management Inc. trimmed its stake in Global Ship Lease, Inc. (NYSE:GSL – Free Report) by 26.1% during the first quarter, Holdings Channel.com reports. The fund owned 718,073 shares of the shipping company’s stock after selling 253,717 shares during the period. Global Ship Lease accounts for about 1.5% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 14th biggest position. Punch & Associates Investment Management Inc.’s holdings in Global Ship Lease were worth $26,734,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Royal Palms Capital LLC acquired a new position in Global Ship Lease during the fourth quarter worth $3,665,000. SG Americas Securities LLC grew its stake in shares of Global Ship Lease by 100.1% in the fourth quarter. SG Americas Securities LLC now owns 56,817 shares of the shipping company’s stock valued at $1,991,000 after buying an additional 28,425 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Global Ship Lease in the 4th quarter valued at $949,000. GSA Capital Partners LLP raised its holdings in shares of Global Ship Lease by 39.7% in the 4th quarter. GSA Capital Partners LLP now owns 50,016 shares of the shipping company’s stock valued at $1,753,000 after buying an additional 14,214 shares during the period. Finally, U S Global Investors Inc. lifted its stake in Global Ship Lease by 220.4% during the 1st quarter. U S Global Investors Inc. now owns 18,690 shares of the shipping company’s stock worth $696,000 after acquiring an additional 12,856 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.
Global Ship Lease Stock Up 1.5%
Shares of NYSE GSL opened at $43.66 on Friday. The stock has a market cap of $1.57 billion, a P/E ratio of 4.15 and a beta of 0.90. The company has a current ratio of 2.26, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27. Global Ship Lease, Inc. has a 12-month low of $27.28 and a 12-month high of $43.89. The business’s fifty day simple moving average is $39.14 and its 200-day simple moving average is $38.57.
Global Ship Lease Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, May 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 23.74%.
Analyst Ratings Changes
GSL has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Global Ship Lease in a report on Friday, April 24th. They set a “buy” rating and a $45.00 target price for the company. Fearnley Fonds raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. Zacks Research lowered shares of Global Ship Lease from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Global Ship Lease currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.
Read Our Latest Stock Analysis on GSL
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.
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