Quarry LP Has $188,000 Stock Position in Global Ship Lease, Inc. $GSL

Quarry LP lifted its stake in Global Ship Lease, Inc. (NYSE:GSL) by 321.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,222 shares of the shipping company’s stock after purchasing an additional 6,272 shares during the quarter. Quarry LP’s holdings in Global Ship Lease were worth $188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Donald Smith & CO. Inc. boosted its position in shares of Global Ship Lease by 2.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,220,085 shares of the shipping company’s stock valued at $73,579,000 after purchasing an additional 80,615 shares during the period. Harbor Capital Advisors Inc. boosted its position in Global Ship Lease by 1.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 526,769 shares of the shipping company’s stock worth $12,037,000 after acquiring an additional 6,856 shares during the period. Foundry Partners LLC boosted its position in Global Ship Lease by 1.5% during the 1st quarter. Foundry Partners LLC now owns 511,215 shares of the shipping company’s stock worth $11,681,000 after acquiring an additional 7,470 shares during the period. Whitefort Capital Management LP boosted its position in Global Ship Lease by 0.8% during the 4th quarter. Whitefort Capital Management LP now owns 369,768 shares of the shipping company’s stock worth $8,072,000 after acquiring an additional 2,997 shares during the period. Finally, SG Americas Securities LLC boosted its position in Global Ship Lease by 182.9% during the 1st quarter. SG Americas Securities LLC now owns 180,858 shares of the shipping company’s stock worth $4,133,000 after acquiring an additional 116,917 shares during the period. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Stock Down 0.3%

GSL opened at $30.06 on Tuesday. Global Ship Lease, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $30.98. The business has a 50-day moving average of $28.59 and a 200-day moving average of $24.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. The company has a market capitalization of $1.07 billion, a PE ratio of 2.79 and a beta of 1.12.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.52. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The company had revenue of $191.86 million during the quarter, compared to the consensus estimate of $177.98 million. Equities research analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.0%. Global Ship Lease’s dividend payout ratio (DPR) is 19.50%.

Analyst Ratings Changes

GSL has been the subject of a number of research reports. Jefferies Financial Group restated a “buy” rating and set a $33.00 price objective on shares of Global Ship Lease in a research report on Tuesday, August 5th. Clarkson Capital lowered Global Ship Lease from a “strong-buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

About Global Ship Lease

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.