Mackenzie Financial Corp Invests $1.98 Million in Global Ship Lease, Inc. (NYSE:GSL)

Mackenzie Financial Corp purchased a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 68,759 shares of the shipping company’s stock, valued at approximately $1,980,000. Mackenzie Financial Corp owned approximately 0.20% of Global Ship Lease as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC grew its position in shares of Global Ship Lease by 3,779.3% during the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after buying an additional 1,470,002 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in Global Ship Lease by 62.0% during the first quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after acquiring an additional 969,536 shares during the period. Marshall Wace LLP raised its position in shares of Global Ship Lease by 275.5% during 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 period. Renaissance Technologies LLC increased its position 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 worth $16,037,000 after buying an additional 275,500 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Global Ship Lease by 237.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 204,805 shares of the shipping company’s stock worth $5,896,000 after acquiring an additional 144,161 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Stock Up 0.5 %

GSL opened at $26.31 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The company has a market capitalization of $925.62 million, a PE ratio of 2.97 and a beta of 1.60. The stock’s fifty day moving average is $25.39 and its 200-day moving average is $25.21. Global Ship Lease, Inc. has a one year low of $16.80 and a one year high of $30.32.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $172.07 million. During the same period in the previous year, the company earned $2.09 earnings per share. On average, equities analysts predict that Global Ship Lease, Inc. will post 9.9 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 23rd were paid a dividend of $0.45 per share. The ex-dividend date was Friday, August 23rd. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a yield of 6.84%. Global Ship Lease’s dividend payout ratio is currently 16.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GSL. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, August 5th.

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.