Global Ship Lease (NYSE:GSL) Sees Strong Trading Volume Following Analyst Upgrade

Global Ship Lease, Inc. (NYSE:GSL) saw unusually-high trading volume on Thursday after Jefferies Financial Group raised their price target on the stock from $21.00 to $24.00. Jefferies Financial Group currently has a buy rating on the stock. Approximately 13,476 shares were traded during mid-day trading, a decline of 97% from the previous session’s volume of 497,487 shares.The stock last traded at $19.01 and had previously closed at $18.84.

A number of other equities research analysts have also recently weighed in on GSL. B. Riley lifted their price objective on Global Ship Lease from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 11th. Zacks Investment Research raised Global Ship Lease from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Wednesday, May 12th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Global Ship Lease by 106.3% during the 1st quarter. BlackRock Inc. now owns 6,095 shares of the shipping company’s stock worth $86,000 after purchasing an additional 3,141 shares in the last quarter. Morgan Stanley grew its stake in Global Ship Lease by 479.2% during the 1st quarter. Morgan Stanley now owns 5,804 shares of the shipping company’s stock worth $82,000 after purchasing an additional 4,802 shares in the last quarter. Ahrens Investment Partners LLC grew its stake in Global Ship Lease by 10.2% during the 1st quarter. Ahrens Investment Partners LLC now owns 58,600 shares of the shipping company’s stock worth $826,000 after purchasing an additional 5,400 shares in the last quarter. Creative Planning purchased a new stake in Global Ship Lease during the 1st quarter worth about $141,000. Finally, Advisory Services Network LLC purchased a new stake in Global Ship Lease during the 1st quarter worth about $150,000. 24.41% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 1.25, a current ratio of 1.69 and a quick ratio of 1.63. The stock has a market capitalization of $697.72 million, a price-to-earnings ratio of 14.46 and a beta of 2.18. The company’s fifty day moving average price is $15.15.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Wednesday, May 12th. The shipping company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.06. Global Ship Lease had a return on equity of 12.97% and a net margin of 16.05%. The business had revenue of $72.98 million during the quarter, compared to the consensus estimate of $70.77 million. As a group, research analysts forecast that Global Ship Lease, Inc. will post 2.62 EPS for the current year.

The business also recently disclosed a — dividend, which was paid on Thursday, June 3rd. Shareholders of record on Monday, May 24th were paid a dividend of $0.25 per share. This represents a yield of 6.18%. The ex-dividend date of this dividend was Friday, May 21st. Global Ship Lease’s dividend payout ratio is presently 53.48%.

Global Ship Lease Company Profile (NYSE:GSL)

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2021, it owned 43 mid-sized and smaller containerships with an aggregate capacity of 245,280 twenty-foot equivalent units. The company is based in London, the United Kingdom.

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