Global Ship Lease, Inc. (NYSE:GSL) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 18.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,549 shares of the shipping company’s stock after selling 2,747 shares during the period. Tidal Investments LLC’s holdings in Global Ship Lease were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its holdings in Global Ship Lease by 69.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company’s stock worth $68,535,000 after acquiring an additional 1,281,941 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Global Ship Lease by 34.9% during the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company’s stock worth $13,747,000 after acquiring an additional 162,900 shares in the last quarter. Foundry Partners LLC grew its holdings in Global Ship Lease by 5.8% during the 4th quarter. Foundry Partners LLC now owns 503,745 shares of the shipping company’s stock worth $10,997,000 after acquiring an additional 27,789 shares in the last quarter. Trexquant Investment LP grew its holdings in Global Ship Lease by 46.7% during the 4th quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company’s stock worth $4,010,000 after acquiring an additional 58,470 shares in the last quarter. Finally, Isthmus Partners LLC grew its holdings in Global Ship Lease by 1.3% during the 4th quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company’s stock worth $2,463,000 after acquiring an additional 1,460 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Trading Down 0.9%

Shares of Global Ship Lease stock opened at $24.83 on Friday. The company has a fifty day simple moving average of $22.15 and a 200-day simple moving average of $22.21. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $30.32. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The stock has a market cap of $880.15 million, a price-to-earnings ratio of 2.75 and a beta of 1.10.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.38. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The business had revenue of $190.98 million during the quarter, compared to analysts’ expectations of $171.73 million. During the same quarter in the prior year, the business posted $2.53 EPS. On average, equities analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Friday, May 23rd will be issued a $0.525 dividend. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.10 annualized dividend and a dividend yield of 8.46%. Global Ship Lease’s dividend payout ratio is presently 19.83%.

Wall Street Analyst Weigh In

Several research firms have commented on GSL. Clarkson Capital cut shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Thursday, May 22nd. Jefferies Financial Group boosted their price target on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

Global Ship Lease 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.