Balyasny Asset Management L.P. Has $792,000 Stake in Global Ship Lease, Inc. (NYSE:GSL)

Balyasny Asset Management L.P. lowered its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 43.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,274 shares of the shipping company's stock after selling 27,834 shares during the period. Balyasny Asset Management L.P. owned 0.10% of Global Ship Lease worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in shares of Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock worth $36,000 after purchasing an additional 1,577 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Global Ship Lease during the fourth quarter worth approximately $37,000. Steward Partners Investment Advisory LLC acquired a new stake in Global Ship Lease during the fourth quarter worth approximately $46,000. R Squared Ltd acquired a new stake in Global Ship Lease during the fourth quarter worth approximately $50,000. Finally, WealthCollab LLC grew its position in Global Ship Lease by 64.1% during the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after buying an additional 1,021 shares in the last quarter. Institutional investors own 50.08% of the company's stock.

Analyst Ratings Changes

GSL has been the topic of a number of analyst reports. Jefferies Financial Group reissued a "buy" rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th. StockNews.com downgraded Global Ship Lease from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Clarkson Capital raised Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th.

Global Ship Lease Price Performance

NYSE:GSL traded up $0.33 during trading hours on Friday, reaching $25.08. 369,620 shares of the company were exchanged, compared to its average volume of 423,264. The business has a 50 day moving average of $21.79 and a 200 day moving average of $22.12. The company has a market capitalization of $889.08 million, a P/E ratio of 2.78 and a beta of 1.10. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $30.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.25. The firm had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. Research analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.37%. The ex-dividend date is Friday, May 23rd. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's dividend payout ratio (DPR) is currently 21.58%.

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.