BNP Paribas Financial Markets Has $193,000 Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

BNP Paribas Financial Markets lowered its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 81.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,827 shares of the shipping company's stock after selling 37,783 shares during the period. BNP Paribas Financial Markets' holdings in Global Ship Lease were worth $193,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its holdings in 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 buying an additional 1,577 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Global Ship Lease during the fourth quarter worth about $37,000. Steward Partners Investment Advisory LLC bought a new position in Global Ship Lease during the fourth quarter worth about $46,000. R Squared Ltd bought a new position in Global Ship Lease during the fourth quarter worth about $50,000. Finally, WealthCollab LLC lifted its holdings in shares of Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock valued at $57,000 after purchasing an additional 1,021 shares in the last quarter. Institutional investors own 50.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GSL. Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective on the stock. in a report on Thursday, May 22nd. Jefferies Financial Group lifted their price objective on Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

Global Ship Lease Stock Down 0.1%

Shares of NYSE:GSL traded down $0.03 during trading on Tuesday, hitting $25.10. 394,836 shares of the company's stock traded hands, compared to its average volume of 403,546. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $30.19. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The company has a market cap of $889.72 million, a price-to-earnings ratio of 2.78 and a beta of 1.10. The company has a 50-day moving average price of $22.23 and a 200-day moving average price of $22.21.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.38. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $190.98 million for the quarter, compared to analyst estimates of $171.73 million. During the same quarter last year, the firm earned $2.53 EPS. As a group, research analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 8.37%. The ex-dividend date is Friday, May 23rd. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's dividend payout ratio (DPR) is currently 19.83%.

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.