Global Ship Lease, Inc. (NYSE:GSL) Shares Bought by CastleKnight Management LP

CastleKnight Management LP grew its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 61.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,431 shares of the shipping company’s stock after buying an additional 36,331 shares during the period. CastleKnight Management LP’s holdings in Global Ship Lease were worth $2,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in Global Ship Lease by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company’s stock worth $10,422,000 after buying an additional 8,890 shares during the period. Harbor Capital Advisors Inc. lifted its position in Global Ship Lease by 2.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 519,913 shares of the shipping company’s stock valued at $11,350,000 after acquiring an additional 13,828 shares during the last quarter. BluePath Capital Management LLC boosted its position in shares of Global Ship Lease by 30.6% in the 4th quarter. BluePath Capital Management LLC now owns 32,146 shares of the shipping company’s stock valued at $713,000 after purchasing an additional 7,535 shares during the period. DGS Capital Management LLC lifted its stake in Global Ship Lease by 125.1% in the fourth quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock valued at $1,008,000 after buying an additional 25,651 shares during the last quarter. Finally, Crescent Grove Advisors LLC boosted its holdings in shares of Global Ship Lease by 215.6% in the fourth quarter. Crescent Grove Advisors LLC now owns 29,789 shares of the shipping company’s stock valued at $650,000 after acquiring an additional 20,349 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GSL. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th. Clarkson Capital upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research report on Wednesday, March 5th.

Global Ship Lease Price Performance

Shares of GSL stock opened at $22.06 on Tuesday. The firm has a market cap of $781.78 million, a P/E ratio of 2.44 and a beta of 1.10. The firm has a fifty day moving average of $21.65 and a two-hundred day moving average of $22.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $30.32.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.30 by $0.25. The business had revenue of $182.43 million during 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%. As a group, research analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 8.16%. Global Ship Lease’s dividend payout ratio (DPR) is 18.50%.

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.