Kestra Private Wealth Services LLC Increases Position in Global Ship Lease, Inc. (NYSE:GSL)

Kestra Private Wealth Services LLC grew its stake in Global Ship Lease, Inc. (NYSE:GSL) by 10.0% during the fourth quarter, HoldingsChannel reports. The fund owned 40,504 shares of the shipping company’s stock after acquiring an additional 3,676 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Global Ship Lease were worth $884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new position in Global Ship Lease during the 4th quarter worth $50,000. Quarry LP grew its stake in Global Ship Lease by 75.0% during the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after buying an additional 1,498 shares during the last quarter. U S Global Investors Inc. purchased a new position in Global Ship Lease during the 3rd quarter worth $150,000. Ballentine Partners LLC purchased a new position in Global Ship Lease during the 3rd quarter worth $213,000. Finally, Crescent Grove Advisors LLC purchased a new position in Global Ship Lease during the 3rd quarter worth $252,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GSL has been the topic of several research analyst reports. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Jefferies Financial Group restated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research note on Monday, November 11th. Finally, Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research note on Thursday, November 14th.

Global Ship Lease Stock Up 0.4 %

Global Ship Lease stock opened at $22.51 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The business’s 50-day simple moving average is $21.79 and its two-hundred day simple moving average is $23.63. The company has a market cap of $829.76 million, a PE ratio of 2.49 and a beta of 1.53. Global Ship Lease, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $30.32.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. The business had revenue of $174.06 million for the quarter, compared to the consensus estimate of $175.83 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. During the same quarter in the previous year, the business earned $2.33 EPS. Equities analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.80 annualized dividend and a yield of 8.00%. Global Ship Lease’s payout ratio is presently 19.93%.

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.