Arrowstreet Capital Limited Partnership Buys Shares of 289,809 Global Ship Lease, Inc. $GSL

Key Points

• Arrowstreet Capital purchased 289,809 Global Ship Lease shares valued at approximately $10.79 million, giving it a 0.81% stake. Institutional investors and hedge funds collectively own 50.08% of the company.
• Global Ship Lease reported quarterly earnings of $2.56 per share and revenue of $198.08 million, exceeding analyst estimates; revenue increased 3.7% year over year.
• The company declared a quarterly dividend of $0.625, equivalent to $2.50 annually and a 5.6% yield. Analysts maintain a consensus “Buy” rating with an average price target of $46.50.

Arrowstreet Capital Limited Partnership purchased a new position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 289,809 shares of the shipping company's stock, valued at approximately $10,790,000. Arrowstreet Capital Limited Partnership owned 0.81% of Global Ship Lease at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Triumph Capital Management acquired a new position in Global Ship Lease during the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Global Ship Lease in the 4th quarter valued at about $29,000. Hilton Head Capital Partners LLC acquired a new stake in Global Ship Lease in the 4th quarter valued at about $35,000. SHP Wealth Management purchased a new position in shares of Global Ship Lease in the 4th quarter valued at about $35,000. Finally, LOM Asset Management Ltd purchased a new position in shares of Global Ship Lease in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 50.08% of the company's stock.

Global Ship Lease Trading Down 0.3%

Shares of Global Ship Lease stock opened at $44.34 on Friday. The company has a 50-day moving average of $39.48 and a two-hundred day moving average of $38.86. Global Ship Lease, Inc. has a 12-month low of $27.28 and a 12-month high of $44.69. The company has a current ratio of 2.26, a quick ratio of 2.21 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.59 billion, a PE ratio of 4.21 and a beta of 0.90.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.16. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business had revenue of $198.08 million for the quarter, compared to analysts' expectations of $182.87 million. The company's quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that Global Ship Lease, Inc. will post 9.5 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were given a $0.625 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. Global Ship Lease's payout ratio is currently 23.74%.

Analysts Set New Price Targets

A number of analysts recently weighed in on GSL shares. Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Fearnley Fonds upgraded shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Zacks Research raised shares of Global Ship Lease from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Jefferies Financial Group began coverage on shares of Global Ship Lease in a report on Friday, April 24th. They issued a "buy" rating and a $45.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Global Ship Lease in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $46.50.

Global Ship Lease Company Profile

Global Ship Lease NYSE: GSL is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.

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