Quarry LP Sells 1,545 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Quarry LP trimmed its position in Global Ship Lease, Inc. (NYSE:GSL) by 44.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,950 shares of the shipping company’s stock after selling 1,545 shares during the period. Quarry LP’s holdings in Global Ship Lease were worth $43,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its holdings in shares of Global Ship Lease by 69.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company’s stock valued at $68,535,000 after acquiring an additional 1,281,941 shares in the last quarter. Renaissance Technologies LLC grew its stake in Global Ship Lease by 34.9% in the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company’s stock valued at $13,747,000 after purchasing an additional 162,900 shares during the period. Trexquant Investment LP increased its position in shares of Global Ship Lease by 46.7% during the 4th quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company’s stock valued at $4,010,000 after purchasing an additional 58,470 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Global Ship Lease during the 4th quarter worth $1,238,000. Finally, State of Tennessee Department of Treasury boosted its holdings in shares of Global Ship Lease by 89.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 67,860 shares of the shipping company’s stock worth $1,481,000 after buying an additional 32,112 shares during the last quarter. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Stock Up 1.9 %

Global Ship Lease stock opened at $21.95 on Friday. The firm has a market capitalization of $778.06 million, a price-to-earnings ratio of 2.43 and a beta of 1.21. The firm has a 50 day simple moving average of $21.66 and a 200 day simple moving average of $22.20. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year 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.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. The business had revenue of $182.43 million for the quarter, compared to analyst estimates of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $0.45 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 8.20%. Global Ship Lease’s payout ratio is currently 18.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GSL shares. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Clarkson Capital raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Wednesday, March 5th.

Global Ship Lease Company 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.