Global Ship Lease, Inc. (NYSE:GSL) Shares Sold by Man Group plc

Man Group plc reduced its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 36.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 321,608 shares of the shipping company’s stock after selling 181,352 shares during the period. Man Group plc owned approximately 0.87% of Global Ship Lease worth $7,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DGS Capital Management LLC grew its position in Global Ship Lease by 125.1% during the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock worth $1,008,000 after purchasing an additional 25,651 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Global Ship Lease during the 4th quarter worth about $37,000. Donald Smith & CO. Inc. boosted its stake in shares of 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. Raymond James Financial Inc. purchased a new stake in shares of Global Ship Lease during the 4th quarter worth about $633,000. Finally, Stifel Financial Corp purchased a new stake in shares of Global Ship Lease during the 4th quarter worth about $342,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GSL shares. StockNews.com lowered shares of Global Ship Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, May 14th. Clarkson Capital raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group increased their target price on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday.

Global Ship Lease Trading Up 5.2%

Shares of Global Ship Lease stock opened at $26.42 on Tuesday. The firm has a market capitalization of $936.51 million, a PE ratio of 2.93 and a beta of 1.10. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $30.32. The firm’s 50-day moving average price is $21.85 and its 200 day moving average price is $22.13. 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 issued its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.38. The firm had revenue of $190.98 million for the quarter, compared to analyst estimates of $171.73 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period last year, the company posted $2.53 EPS. On average, sell-side analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a yield of 7.95%. Global Ship Lease’s dividend payout ratio (DPR) is currently 21.58%.

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.