CastleKnight Management LP raised its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 61.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,431 shares of the shipping company's stock after acquiring an additional 36,331 shares during the quarter. CastleKnight Management LP owned approximately 0.26% of Global Ship Lease worth $2,083,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC increased its stake in shares of Global Ship Lease by 6,856.5% in the 4th 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in Global Ship Lease during the 4th quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC purchased a new stake in Global Ship Lease during the 4th quarter valued at approximately $46,000. R Squared Ltd purchased a new position in shares of Global Ship Lease in the fourth quarter worth $50,000. Finally, WealthCollab LLC lifted its stake in Global Ship Lease by 64.1% in the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after purchasing an additional 1,021 shares in the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.
Global Ship Lease Price Performance
Shares of GSL stock opened at $22.06 on Tuesday. The company has a market cap of $781.78 million, a P/E ratio of 2.44 and a beta of 1.10. 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 stock's 50-day moving average is $21.65 and its 200 day moving average is $22.16. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $30.32.
Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The business had revenue of $182.43 million for the quarter, compared to analyst estimates of $170.71 million. Research analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.
Global Ship Lease Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.16%. Global Ship Lease's dividend payout ratio is currently 18.50%.
Analysts Set New Price Targets
GSL has been the topic of several research reports. Jefferies Financial Group restated a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th. StockNews.com cut Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Clarkson Capital upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th.
View Our Latest Stock Report on Global Ship Lease
Global Ship Lease Profile
(
Free Report)
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.
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