Lonestar Capital Management LLC Makes New $5.26 Million Investment in Global Ship Lease, Inc. $GSL

Lonestar Capital Management LLC purchased a new position in Global Ship Lease, Inc. (NYSE:GSL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 200,000 shares of the shipping company’s stock, valued at approximately $5,262,000. Global Ship Lease accounts for approximately 2.0% of Lonestar Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Lonestar Capital Management LLC owned 0.56% of Global Ship Lease as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GSL. Donald Smith & CO. Inc. boosted its position in Global Ship Lease by 0.6% during the second quarter. Donald Smith & CO. Inc. now owns 3,238,868 shares of the shipping company’s stock valued at $85,215,000 after acquiring an additional 18,783 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Global Ship Lease in the 2nd quarter valued at about $68,680,000. Acadian Asset Management LLC lifted its stake in shares of Global Ship Lease by 7.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,305,109 shares of the shipping company’s stock valued at $34,314,000 after purchasing an additional 89,258 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Global Ship Lease by 5.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company’s stock valued at $16,136,000 after purchasing an additional 31,047 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Global Ship Lease by 1.9% during the second quarter. Harbor Capital Advisors Inc. now owns 536,747 shares of the shipping company’s stock worth $14,122,000 after purchasing an additional 9,978 shares during the period. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GSL. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Jefferies Financial Group increased their target price on shares of Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $33.50.

Global Ship Lease Price Performance

Shares of NYSE:GSL opened at $33.85 on Friday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 3.04 and a beta of 0.98. The stock’s 50 day moving average is $32.21 and its 200-day moving average is $29.93. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $37.22.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Wednesday, November 12th. The shipping company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.35. The firm had revenue of $192.67 million for the quarter, compared to the consensus estimate of $180.36 million. Global Ship Lease had a net margin of 53.62% and a return on equity of 23.98%. The business’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast 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 was paid on Thursday, December 4th. Shareholders of record on Friday, November 21st were paid a dividend of $0.625 per share. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, November 21st. This represents a $2.50 dividend on an annualized basis and a yield of 7.4%. Global Ship Lease’s dividend payout ratio (DPR) is presently 22.44%.

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.