Simplicity Wealth LLC Increases Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Simplicity Wealth LLC increased its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,236 shares of the shipping company’s stock after buying an additional 505 shares during the period. Simplicity Wealth LLC’s holdings in Global Ship Lease were worth $433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GSL. Acadian Asset Management LLC lifted its position in shares of Global Ship Lease by 3,779.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock valued at $43,406,000 after buying an additional 1,470,002 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in shares of Global Ship Lease by 62.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock valued at $51,434,000 after buying an additional 969,536 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Global Ship Lease by 275.5% during the 2nd 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Global Ship Lease by 97.9% during the 2nd quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after buying an additional 275,500 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Global Ship Lease by 237.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 204,805 shares of the shipping company’s stock valued at $5,896,000 after buying an additional 144,161 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Analysts Set New Price Targets

GSL has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research note on Monday, August 5th. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, StockNews.com raised Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 11th.

Global Ship Lease Stock Down 0.7 %

Shares of GSL opened at $24.89 on Monday. Global Ship Lease, Inc. has a 52-week low of $16.80 and a 52-week high of $30.32. The company has a market capitalization of $875.83 million, a PE ratio of 2.81 and a beta of 1.60. The stock has a fifty day simple moving average of $25.35 and a two-hundred day simple moving average of $25.52. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $172.07 million. During the same period last year, the company earned $2.09 EPS. As a group, equities analysts forecast that Global Ship Lease, Inc. will post 9.9 EPS for the current year.

Global Ship Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd were paid a $0.45 dividend. The ex-dividend date was Friday, August 23rd. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.23%. Global Ship Lease’s dividend payout ratio (DPR) is 16.95%.

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.