Global Ship Lease, Inc. (NYSE:GSL) Stock Holdings Lessened by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. cut its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 35.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,627,906 shares of the shipping company’s stock after selling 905,795 shares during the period. Donald Smith & CO. Inc. owned about 4.63% of Global Ship Lease worth $46,867,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Global Ship Lease by 287.1% during the 4th quarter. BNP Paribas Financial Markets now owns 94,823 shares of the shipping company’s stock valued at $1,879,000 after acquiring an additional 70,329 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Global Ship Lease in the 4th quarter worth about $201,000. Janney Montgomery Scott LLC raised its stake in shares of Global Ship Lease by 13.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 26,048 shares of the shipping company’s stock worth $516,000 after purchasing an additional 3,011 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Global Ship Lease by 150.2% during the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock valued at $142,000 after buying an additional 4,314 shares during the last quarter. Finally, Olympiad Research LP grew its stake in shares of Global Ship Lease by 100.3% in the 4th quarter. Olympiad Research LP now owns 24,503 shares of the shipping company’s stock valued at $486,000 after buying an additional 12,268 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Stock Up 0.6 %

GSL opened at $24.07 on Monday. The firm has a market cap of $846.98 million, a P/E ratio of 2.72 and a beta of 1.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42. The business has a 50 day moving average price of $25.54 and a 200 day moving average price of $24.75. Global Ship Lease, Inc. has a twelve month low of $16.80 and a twelve month high of $30.32.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. The business had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $172.07 million. During the same period in the previous year, the company earned $2.09 earnings per share. Research analysts forecast that Global Ship Lease, Inc. will post 9.9 EPS for the current year.

Global Ship Lease Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 23rd were given a $0.45 dividend. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a dividend yield of 7.48%. The ex-dividend date was Friday, August 23rd. Global Ship Lease’s dividend payout ratio (DPR) is currently 16.95%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GSL shares. StockNews.com raised shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th. Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, August 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.