BNP Paribas Financial Markets Decreases Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

BNP Paribas Financial Markets lessened its stake in Global Ship Lease, Inc. (NYSE:GSL) by 39.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,610 shares of the shipping company’s stock after selling 30,452 shares during the quarter. BNP Paribas Financial Markets’ holdings in Global Ship Lease were worth $1,242,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Global Ship Lease by 12.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 30,992 shares of the shipping company’s stock valued at $826,000 after purchasing an additional 3,377 shares during the last quarter. Foundry Partners LLC increased its position in Global Ship Lease by 45.2% during the 3rd quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after buying an additional 148,247 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in Global Ship Lease in the third quarter valued at about $2,894,000. Moors & Cabot Inc. grew its stake in shares of Global Ship Lease by 2.2% during the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock worth $883,000 after acquiring an additional 700 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in shares of Global Ship Lease by 62.5% during the third quarter. GSA Capital Partners LLP now owns 173,391 shares of the shipping company’s stock valued at $4,621,000 after acquiring an additional 66,714 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GSL has been the subject of a number of recent analyst reports. Clarkson Capital cut shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price for the company. in a research note on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research note on Monday, November 11th. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

Global Ship Lease Stock Performance

Global Ship Lease stock opened at $22.02 on Tuesday. The stock has a 50-day moving average price of $23.79 and a 200 day moving average price of $25.65. The company has a market capitalization of $811.47 million, a price-to-earnings ratio of 2.44 and a beta of 1.55. Global Ship Lease, Inc. has a 52 week low of $17.69 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.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.43 by $0.02. The business had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period in the previous year, the business posted $2.33 EPS. Sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.85 EPS for the current year.

Global Ship Lease Dividend Announcement

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

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.