State Street Corp Has $7.37 Million Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

State Street Corp raised its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,415 shares of the shipping company’s stock after purchasing an additional 3,346 shares during the period. State Street Corp’s holdings in Global Ship Lease were worth $7,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in Global Ship Lease by 3,779.3% in the second 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 during the period. Marshall Wace LLP boosted its position in shares of Global Ship Lease by 275.5% in the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after purchasing an additional 783,963 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Global Ship Lease by 147.1% during the third quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after purchasing an additional 301,280 shares during the period. Renaissance Technologies LLC increased its holdings in Global Ship Lease by 97.9% in the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after purchasing an additional 275,500 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its stake in Global Ship Lease by 14.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company’s stock valued at $49,503,000 after buying an additional 229,623 shares during the period. Institutional investors own 50.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GSL. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, Clarkson Capital lowered shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a report on Thursday, November 14th.

Global Ship Lease Trading Down 1.0 %

NYSE GSL opened at $21.80 on Friday. Global Ship Lease, Inc. has a one year low of $18.75 and a one year high of $30.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The firm has a market cap of $803.59 million, a P/E ratio of 2.41 and a beta of 1.55. The stock’s 50-day moving average is $22.81 and its 200-day moving average is $24.97.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate 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 last year, the company posted $2.33 EPS. Sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Friday, November 22nd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date of this dividend was Friday, November 22nd. Global Ship Lease’s payout ratio is presently 19.93%.

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.