Fairscale Capital LLC Invests $107,000 in Global Ship Lease, Inc. (NYSE:GSL)

Fairscale Capital LLC bought a new position in Global Ship Lease, Inc. (NYSE:GSL) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 3,720 shares of the shipping company’s stock, valued at approximately $107,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC lifted its position in shares of Global Ship Lease by 44.6% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 85,702 shares of the shipping company’s stock valued at $1,699,000 after buying an additional 26,435 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Global Ship Lease during the fourth quarter valued at approximately $1,261,000. SG Americas Securities LLC purchased a new position in Global Ship Lease during the second quarter valued at approximately $2,130,000. BluePath Capital Management LLC bought a new position in shares of Global Ship Lease in the first quarter worth approximately $559,000. Finally, ARGA Investment Management LP purchased a new stake in shares of Global Ship Lease in the first quarter worth $1,227,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Price Performance

Shares of NYSE:GSL opened at $24.38 on Monday. The firm has a market cap of $857.88 million, a price-to-earnings ratio of 2.75 and a beta of 1.60. The firm has a fifty day moving average price of $25.30 and a 200 day moving average price of $24.91. Global Ship Lease, Inc. has a fifty-two week low of $16.80 and a fifty-two week high of $30.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.19. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $172.07 million. During the same quarter last year, the business posted $2.09 earnings per share. As a group, sell-side analysts expect that Global Ship Lease, Inc. will post 9.9 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd were paid a $0.45 dividend. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.80 dividend on an annualized basis and a yield of 7.38%. Global Ship Lease’s payout ratio is presently 16.95%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GSL shares. Jefferies Financial Group restated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research note on Monday, August 5th. StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th. Finally, Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th.

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.