12,804 Shares in Global Ship Lease, Inc. (NYSE:GSL) Bought by Creative Planning

Creative Planning purchased a new position in Global Ship Lease, Inc. (NYSE:GSL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,804 shares of the shipping company’s stock, valued at approximately $369,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of Global Ship Lease by 3,779.3% during the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after buying an additional 1,470,002 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of Global Ship Lease by 62.0% in the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after acquiring an additional 969,536 shares in the last quarter. Marshall Wace LLP increased its holdings 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 worth $30,763,000 after acquiring an additional 783,963 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Global Ship Lease by 97.9% during the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock worth $16,037,000 after buying an additional 275,500 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Global Ship Lease by 237.7% during the second quarter. Harbor Capital Advisors Inc. now owns 204,805 shares of the shipping company’s stock worth $5,896,000 after buying an additional 144,161 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GSL shares. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, August 5th. Finally, StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 11th.

Global Ship Lease Stock Up 1.3 %

GSL stock opened at $24.62 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The stock’s 50 day simple moving average is $25.26 and its 200 day simple moving average is $25.57. The company has a market cap of $866.33 million, a P/E ratio of 2.78 and a beta of 1.60. Global Ship Lease, Inc. has a fifty-two week low of $16.80 and a fifty-two week high of $30.32.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $175.00 million during the quarter, compared to analyst estimates of $172.07 million. During the same period in the prior year, the company posted $2.09 earnings per share. On average, research analysts expect that Global Ship Lease, Inc. will post 9.9 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 23rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date was Friday, August 23rd. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s dividend payout ratio is currently 16.95%.

Global Ship Lease Company 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.