Quarry LP Purchases 1,498 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Quarry LP boosted its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 75.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,495 shares of the shipping company’s stock after acquiring an additional 1,498 shares during the quarter. Quarry LP’s holdings in Global Ship Lease were worth $93,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GSL. SG Americas Securities LLC bought a new stake in shares of Global Ship Lease in the 2nd quarter valued at about $2,130,000. Janney Montgomery Scott LLC raised its stake in Global Ship Lease by 126.1% in the third quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock valued at $2,421,000 after buying an additional 50,660 shares during the period. Marshall Wace LLP lifted its position in shares of Global Ship Lease by 275.5% in the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after buying an additional 783,963 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Global Ship Lease by 45.2% during the 3rd quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock worth $12,684,000 after acquiring an additional 148,247 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Global Ship Lease by 780.1% during the 2nd quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock worth $2,984,000 after acquiring an additional 91,880 shares during the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a report on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. Finally, StockNews.com downgraded 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 Trading Down 1.3 %

Shares of Global Ship Lease stock opened at $22.01 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The firm has a 50-day moving average of $23.89 and a 200-day moving average of $25.71. Global Ship Lease, Inc. has a 52-week low of $17.69 and a 52-week high of $30.32. The stock has a market cap of $811.29 million, a PE ratio of 2.44 and a beta of 1.55.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The firm had revenue of $174.06 million for the quarter, compared to analyst estimates of $175.83 million. During the same quarter in the prior year, the business posted $2.33 EPS. As a group, sell-side analysts forecast that Global Ship Lease, Inc. will post 9.85 EPS for the current year.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd were issued a $0.45 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.80 annualized dividend and a yield of 8.18%. Global Ship Lease’s dividend payout ratio is presently 19.93%.

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.