Commonwealth Equity Services LLC Trims Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Commonwealth Equity Services LLC lowered its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 57,049 shares of the shipping company’s stock after selling 1,648 shares during the period. Commonwealth Equity Services LLC’s holdings in Global Ship Lease were worth $1,245,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GSL. Point72 Asset Management L.P. acquired a new position in Global Ship Lease during the third quarter worth $712,000. DGS Capital Management LLC raised its holdings in shares of Global Ship Lease by 125.1% in the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock valued at $1,008,000 after buying an additional 25,651 shares during the period. SBI Securities Co. Ltd. acquired a new position in Global Ship Lease during the 4th quarter worth about $37,000. Public Employees Retirement System of Ohio purchased a new position in Global Ship Lease during the 3rd quarter valued at about $1,441,000. Finally, JPMorgan Chase & Co. boosted its holdings in Global Ship Lease by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company’s stock valued at $10,422,000 after acquiring an additional 8,890 shares during the period. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Price Performance

GSL stock opened at $23.07 on Monday. The business’s 50-day moving average is $22.38 and its two-hundred day moving average is $23.02. 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 capitalization of $850.41 million, a P/E ratio of 2.55 and a beta of 1.47. Global Ship Lease, Inc. has a 1 year low of $20.11 and a 1 year high of $30.32.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The firm had revenue of $182.43 million for the quarter, compared to analyst estimates of $170.71 million. Analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were issued a $0.45 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.80%. Global Ship Lease’s payout ratio is 18.50%.

Analyst Upgrades and Downgrades

GSL has been the topic of several research reports. Jefferies Financial Group reissued a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th. Clarkson Capital raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

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.