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

Commonwealth Equity Services LLC increased its stake in shares of Global Ship Lease, Inc. (NYSE:GSL – Get Rating) by 38.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,468 shares of the shipping company’s stock after purchasing an additional 33,424 shares during the period. Commonwealth Equity Services LLC’s holdings in Global Ship Lease were worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in shares of Global Ship Lease by 153.4% during the 3rd quarter. US Bancorp DE now owns 7,438 shares of the shipping company’s stock valued at $118,000 after buying an additional 4,503 shares during the period. Resources Investment Advisors LLC. increased its position in Global Ship Lease by 24.1% during the second quarter. Resources Investment Advisors LLC. now owns 10,632 shares of the shipping company’s stock valued at $176,000 after acquiring an additional 2,066 shares during the last quarter. Hall Private Wealth Advisors lifted its holdings in Global Ship Lease by 9.9% in the third quarter. Hall Private Wealth Advisors now owns 169,913 shares of the shipping company’s stock valued at $2,681,000 after acquiring an additional 15,367 shares during the period. CastleKnight Management LP boosted its position in Global Ship Lease by 26.1% in the second quarter. CastleKnight Management LP now owns 166,100 shares of the shipping company’s stock worth $2,744,000 after purchasing an additional 34,400 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Global Ship Lease by 25.4% during the 3rd quarter. Virtu Financial LLC now owns 34,208 shares of the shipping company’s stock valued at $540,000 after purchasing an additional 6,932 shares during the period. Hedge funds and other institutional investors own 45.86% of the company’s stock.

Global Ship Lease Stock Performance

Shares of GSL opened at $18.97 on Tuesday. The business has a 50-day simple moving average of $18.71 and a two-hundred day simple moving average of $17.82. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 0.77. Global Ship Lease, Inc. has a 52 week low of $14.62 and a 52 week high of $30.02. The stock has a market cap of $696.77 million, a price-to-earnings ratio of 2.41 and a beta of 1.68.

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 6th. Investors of record on Wednesday, February 22nd were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 7.91%. The ex-dividend date was Tuesday, February 21st. Global Ship Lease’s dividend payout ratio is 19.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Global Ship Lease in a research note on Wednesday, March 1st. StockNews.com raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Monday, November 14th. Finally, TheStreet upgraded shares of Global Ship Lease from a “c+” rating to a “b-” rating in a research note on Friday, January 13th.

Global Ship Lease Profile

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Global Ship Lease, Inc is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. It also focuses on the operation and technical management of each vessel, such as crewing, provision of lubricating oils, maintaining the vessel, periodic dry docking, and performing work required by regulations.