CastleKnight Management LP Raises Position in Global Ship Lease, Inc. (NYSE:GSL)

CastleKnight Management LP boosted its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 61.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,431 shares of the shipping company's stock after acquiring an additional 36,331 shares during the period. CastleKnight Management LP owned 0.26% of Global Ship Lease worth $2,083,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. CIBC Private Wealth Group LLC increased its position in Global Ship Lease by 6,856.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after buying an additional 1,577 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Global Ship Lease during the 4th quarter valued at about $37,000. Steward Partners Investment Advisory LLC purchased a new stake in Global Ship Lease during the 4th quarter valued at about $46,000. R Squared Ltd purchased a new position in Global Ship Lease in the fourth quarter worth about $50,000. Finally, WealthCollab LLC raised its holdings in Global Ship Lease by 64.1% in 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 during the last quarter. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Trading Up 0.5 %

Shares of NYSE:GSL traded up $0.12 during trading on Friday, hitting $22.07. The company had a trading volume of 190,448 shares, compared to its average volume of 432,642. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The company has a fifty day simple moving average of $21.66 and a two-hundred day simple moving average of $22.10. The stock has a market cap of $782.32 million, a price-to-earnings ratio of 2.44 and a beta of 1.10. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $30.32.

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

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 8.16%. Global Ship Lease's payout ratio is 18.50%.

Analyst Ratings Changes

A number of equities analysts have weighed in on GSL shares. StockNews.com lowered Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th. Jefferies Financial Group reiterated a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th. Finally, Clarkson Capital upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th.

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.