Global Ship Lease, Inc. (NYSE:GSL) Short Interest Update

Global Ship Lease, Inc. (NYSE:GSL – Get Rating) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 3,200,000 shares, a growth of 7.0% from the February 13th total of 2,990,000 shares. Approximately 9.4% of the shares of the company are sold short. Based on an average daily volume of 558,800 shares, the days-to-cover ratio is currently 5.7 days.

Global Ship Lease Stock Down 2.3 %

GSL opened at $19.06 on Thursday. The business has a 50 day moving average price of $18.82 and a two-hundred day moving average price of $17.84. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 0.77. The company has a market cap of $700.07 million, a PE ratio of 2.42 and a beta of 1.68. Global Ship Lease has a 52 week low of $14.62 and a 52 week high of $30.02.

Global Ship Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 6th. Shareholders of record on Wednesday, February 22nd were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date of this dividend was Tuesday, February 21st. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.04%.

Analyst Ratings Changes

GSL has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Global Ship Lease in a research note on Wednesday, March 1st. TheStreet upgraded Global Ship Lease from a “c+” rating to a “b-” rating in a research report on Friday, January 13th. Finally, StockNews.com started coverage on Global Ship Lease in a report on Thursday. They issued a “buy” rating on the stock.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds have recently made changes to their positions in GSL. Clear Street Markets LLC purchased a new position in Global Ship Lease in the 4th quarter worth approximately $35,000. PNC Financial Services Group Inc. raised its stake in shares of Global Ship Lease by 260.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the shipping company’s stock valued at $103,000 after purchasing an additional 2,600 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Global Ship Lease by 442.6% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 5,149 shares of the shipping company’s stock valued at $85,000 after purchasing an additional 4,200 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Global Ship Lease in the third quarter worth about $109,000. Finally, US Bancorp DE raised its position in Global Ship Lease by 153.4% in the third quarter. US Bancorp DE now owns 7,438 shares of the shipping company’s stock worth $118,000 after acquiring an additional 4,503 shares in the last quarter. Institutional investors and hedge funds own 45.86% of the company’s stock.

Global Ship Lease Company 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.