StockNews.com Initiates Coverage on Global Ship Lease (NYSE:GSL)

Stock analysts at StockNews.com initiated coverage on shares of Global Ship Lease (NYSE:GSL – Get Rating) in a research note issued on Thursday. The brokerage set a “buy” rating on the shipping company’s stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and issued a $25.00 price objective on shares of Global Ship Lease in a research report on Wednesday, March 1st. TheStreet raised shares of Global Ship Lease from a “c+” rating to a “b-” rating in a research report on Friday, January 13th.

Global Ship Lease Stock Performance

Shares of GSL stock opened at $19.06 on Thursday. Global Ship Lease has a one year low of $14.62 and a one year high of $30.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.86 and a current ratio of 0.91. The company has a 50 day moving average price of $18.82 and a 200 day moving average price of $17.84. The firm has a market capitalization of $700.07 million, a price-to-earnings ratio of 2.42 and a beta of 1.68.

Institutional Investors Weigh In On Global Ship Lease

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of Global Ship Lease by 7,347.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,017,197 shares of the shipping company’s stock valued at $33,324,000 after purchasing an additional 1,990,112 shares during the period. Marshall Wace LLP boosted its stake in shares of Global Ship Lease by 104.8% in the third quarter. Marshall Wace LLP now owns 1,570,652 shares of the shipping company’s stock valued at $24,788,000 after purchasing an additional 803,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Global Ship Lease by 91.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,509,100 shares of the shipping company’s stock valued at $24,930,000 after purchasing an additional 722,300 shares during the period. Millennium Management LLC boosted its stake in shares of Global Ship Lease by 123.0% in the second quarter. Millennium Management LLC now owns 1,321,823 shares of the shipping company’s stock valued at $21,837,000 after purchasing an additional 728,945 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Global Ship Lease by 4,208.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 748,751 shares of the shipping company’s stock valued at $12,467,000 after purchasing an additional 731,373 shares during the period. Institutional investors and hedge funds own 45.86% of the company’s stock.

About Global Ship Lease

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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.