Charles Schwab Investment Management Inc. Sells 15,758 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Charles Schwab Investment Management Inc. lessened its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 32.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 33,278 shares of the shipping company’s stock after selling 15,758 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Global Ship Lease were worth $887,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Signaturefd LLC lifted its position in shares of Global Ship Lease by 23.3% during the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after buying an additional 477 shares in the last quarter. Blue Trust Inc. increased its holdings in Global Ship Lease by 2,642.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after acquiring an additional 3,012 shares in the last quarter. Fairscale Capital LLC bought a new stake in Global Ship Lease during the 2nd quarter worth approximately $107,000. nVerses Capital LLC lifted its holdings in Global Ship Lease by 355.6% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 3,200 shares in the last quarter. Finally, U S Global Investors Inc. bought a new position in shares of Global Ship Lease in the third quarter worth approximately $150,000. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Up 0.1 %

GSL stock opened at $21.31 on Wednesday. The company has a market capitalization of $785.53 million, a price-to-earnings ratio of 2.36 and a beta of 1.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. Global Ship Lease, Inc. has a 1-year low of $18.75 and a 1-year high of $30.32. The business has a 50 day simple moving average of $23.30 and a two-hundred day simple moving average of $25.34.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $2.33 earnings per share. Research analysts anticipate that Global Ship Lease, Inc. will post 9.85 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.45%. Global Ship Lease’s payout ratio is 19.93%.

Wall Street Analyst Weigh In

GSL has been the topic of several recent analyst reports. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th. Clarkson Capital lowered Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Thursday, November 14th. 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 Monday, November 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.