Donald Smith & CO. Inc. Raises Position in Global Ship Lease, Inc. (NYSE:GSL)

Donald Smith & CO. Inc. grew its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 69.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,139,470 shares of the shipping company’s stock after buying an additional 1,281,941 shares during the quarter. Global Ship Lease accounts for 1.6% of Donald Smith & CO. Inc.’s portfolio, making the stock its 27th largest position. Donald Smith & CO. Inc. owned about 8.52% of Global Ship Lease worth $68,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GSL. Trexquant Investment LP lifted its position in Global Ship Lease by 46.7% in the 4th quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company’s stock valued at $4,010,000 after acquiring an additional 58,470 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Global Ship Lease during the fourth quarter valued at $1,238,000. Public Employees Retirement System of Ohio bought a new position in shares of Global Ship Lease during the third quarter valued at $1,441,000. Raymond James Financial Inc. purchased a new stake in shares of Global Ship Lease during the fourth quarter valued at $633,000. Finally, Point72 Asset Management L.P. bought a new stake in Global Ship Lease in the 3rd quarter worth about $712,000. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Up 0.1 %

Global Ship Lease stock opened at $23.13 on Thursday. The business has a 50-day simple moving average of $22.48 and a two-hundred day simple moving average of $23.00. Global Ship Lease, Inc. has a 52-week low of $20.35 and a 52-week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a market cap of $819.89 million, a P/E ratio of 2.56 and a beta of 1.47.

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

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a yield of 7.78%. Global Ship Lease’s dividend payout ratio (DPR) is presently 18.50%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Clarkson Capital raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a report on Wednesday, March 5th.

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.