Cubist Systematic Strategies LLC cut its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 45.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 138,584 shares of the shipping company's stock after selling 114,488 shares during the period. Cubist Systematic Strategies LLC owned about 0.38% of Global Ship Lease worth $3,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. increased its stake in shares of Global Ship Lease by 69.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock worth $68,535,000 after purchasing an additional 1,281,941 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Global Ship Lease by 34.9% during the fourth quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock worth $13,747,000 after purchasing an additional 162,900 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Global Ship Lease by 46.7% during the fourth quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company's stock worth $4,010,000 after purchasing an additional 58,470 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Global Ship Lease during the 4th quarter valued at about $1,238,000. Finally, CastleKnight Management LP grew its stake in Global Ship Lease by 61.5% during the 4th quarter. CastleKnight Management LP now owns 95,431 shares of the shipping company's stock valued at $2,083,000 after acquiring an additional 36,331 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GSL has been the subject of several research reports. Clarkson Capital raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. StockNews.com cut shares of Global Ship Lease from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $29.00 price objective on shares of Global Ship Lease in a research note on Wednesday, March 5th.
Read Our Latest Stock Analysis on GSL
Global Ship Lease Trading Up 1.2%
Shares of Global Ship Lease stock traded up $0.29 during mid-day trading on Friday, hitting $25.04. The stock had a trading volume of 163,941 shares, compared to its average volume of 426,916. The firm has a 50-day moving average of $21.75 and a two-hundred day moving average of $22.12. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm has a market cap of $887.49 million, a P/E ratio of 2.77 and a beta of 1.10.
Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 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 firm had revenue of $182.43 million for the quarter, compared to analyst estimates of $170.71 million. Sell-side analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.
Global Ship Lease Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Friday, May 23rd will be issued a $0.525 dividend. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 8.39%. The ex-dividend date of this dividend is Friday, May 23rd. Global Ship Lease's dividend payout ratio is currently 21.58%.
About Global Ship Lease
(
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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