Global Ship Lease, Inc. (NYSE:GSL) Holdings Trimmed by nVerses Capital LLC

nVerses Capital LLC reduced its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 39.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,500 shares of the shipping company’s stock after selling 1,600 shares during the period. nVerses Capital LLC’s holdings in Global Ship Lease were worth $67,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. ARGA Investment Management LP purchased a new position in shares of Global Ship Lease during the first quarter valued at $1,227,000. BluePath Capital Management LLC acquired a new stake in Global Ship Lease during the 1st quarter worth about $559,000. Janney Montgomery Scott LLC grew its stake 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 in the last quarter. GSA Capital Partners LLP grew its stake in Global Ship Lease by 6.7% during the 1st quarter. GSA Capital Partners LLP now owns 62,426 shares of the shipping company’s stock valued at $1,267,000 after acquiring an additional 3,941 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in shares of Global Ship Lease in the 1st quarter valued at about $271,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Down 0.9 %

NYSE:GSL opened at $24.80 on Tuesday. The company has a market capitalization of $872.66 million, a P/E ratio of 2.80 and a beta of 1.60. The stock’s 50 day moving average price is $25.13 and its 200 day moving average price is $25.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. Global Ship Lease, Inc. has a 52 week low of $16.80 and a 52 week high of $30.32.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.27 by $0.19. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. The company had revenue of $175.00 million for the quarter, compared to analyst estimates of $172.07 million. During the same quarter in the prior year, the business posted $2.09 EPS. On average, research analysts forecast that Global Ship Lease, Inc. will post 9.9 EPS 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. Shareholders of record on Friday, August 23rd were issued a dividend of $0.45 per share. 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 7.26%. The ex-dividend date of this dividend was Friday, August 23rd. Global Ship Lease’s dividend payout ratio (DPR) is 16.95%.

Wall Street Analysts Forecast Growth

GSL has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, August 5th. Clarkson Capital raised shares of 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 report on Wednesday, September 11th.

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.