BluePath Capital Management LLC Sells 5,546 Shares of Global Ship Lease, Inc. (NYSE:GSL)

BluePath Capital Management LLC lessened its stake in Global Ship Lease, Inc. (NYSE:GSL) by 18.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,611 shares of the shipping company’s stock after selling 5,546 shares during the quarter. BluePath Capital Management LLC’s holdings in Global Ship Lease were worth $656,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC raised its holdings in Global Ship Lease by 23.3% during the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 477 shares during the period. Simplicity Wealth LLC raised its holdings in Global Ship Lease by 3.2% during the 3rd quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock valued at $433,000 after acquiring an additional 505 shares during the period. Tidal Investments LLC raised its holdings in Global Ship Lease by 14.8% during the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock valued at $321,000 after acquiring an additional 2,038 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Global Ship Lease by 6.5% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock valued at $1,094,000 after acquiring an additional 2,313 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Global Ship Lease by 10.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock valued at $584,000 after acquiring an additional 2,703 shares during the period. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Stock Up 0.9 %

GSL opened at $24.06 on Friday. The company has a fifty day moving average price of $24.65 and a 200-day moving average price of $25.79. The firm has a market capitalization of $886.85 million, a P/E ratio of 2.63 and a beta of 1.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. Global Ship Lease, Inc. has a one year low of $16.80 and a one year high of $30.32.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.19. The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $172.07 million. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. During the same period in the previous year, the business earned $2.09 EPS. Equities research analysts expect that Global Ship Lease, Inc. will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 23rd were given a $0.45 dividend. The ex-dividend date was Friday, August 23rd. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a yield of 7.48%. Global Ship Lease’s payout ratio is 16.39%.

Wall Street Analysts Forecast Growth

GSL has been the topic of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a report on Monday, August 5th. Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

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.