JPMorgan Chase & Co. Buys 8,890 Shares of Global Ship Lease, Inc. (NYSE:GSL)

JPMorgan Chase & Co. lifted its stake in Global Ship Lease, Inc. (NYSE:GSL) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 391,053 shares of the shipping company’s stock after purchasing an additional 8,890 shares during the quarter. JPMorgan Chase & Co.’s holdings in Global Ship Lease were worth $10,422,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Simplicity Wealth LLC boosted its stake in shares of Global Ship Lease by 3.2% in the 3rd quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock valued at $433,000 after purchasing an additional 505 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Global Ship Lease by 2.2% in the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock valued at $883,000 after acquiring an additional 700 shares during the last quarter. Quarry LP grew its holdings in Global Ship Lease by 75.0% during the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after acquiring an additional 1,498 shares during the period. Janus Henderson Group PLC raised its position in shares of Global Ship Lease by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 46,179 shares of the shipping company’s stock valued at $1,231,000 after acquiring an additional 2,478 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its stake in shares of Global Ship Lease by 6.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 40,578 shares of the shipping company’s stock valued at $1,081,000 after purchasing an additional 2,591 shares during the period. Institutional investors own 50.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research note on Thursday, November 14th. Jefferies Financial Group restated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research report on Monday, November 11th. Finally, 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.

Global Ship Lease Price Performance

Shares of GSL stock opened at $22.06 on Monday. 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, Inc. has a 12-month low of $18.75 and a 12-month high of $30.32. The firm has a fifty day moving average of $22.45 and a 200-day moving average of $24.44. The firm has a market capitalization of $813.18 million, a price-to-earnings ratio of 2.44 and a beta of 1.55.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. During the same period in the previous year, the firm earned $2.33 earnings per share. On average, equities research analysts forecast that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders 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 8.16%. The ex-dividend date of this dividend was Friday, November 22nd. Global Ship Lease’s payout ratio is currently 19.93%.

About Global Ship Lease

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.