BNP Paribas Financial Markets Lowers Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

BNP Paribas Financial Markets trimmed its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 81.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,827 shares of the shipping company's stock after selling 37,783 shares during the quarter. BNP Paribas Financial Markets' holdings in Global Ship Lease were worth $193,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GSL. CIBC Private Wealth Group LLC increased its position in shares of Global Ship Lease by 6,856.5% in the fourth 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. acquired a new position in Global Ship Lease during the fourth quarter worth $37,000. Steward Partners Investment Advisory LLC acquired a new position in Global Ship Lease during the fourth quarter worth $46,000. R Squared Ltd acquired a new position in Global Ship Lease during the fourth quarter worth $50,000. Finally, WealthCollab LLC boosted its stake in Global Ship Lease by 64.1% during 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. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GSL. Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Clarkson Capital lowered Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price on the stock. in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group increased their target price on Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th.

Global Ship Lease Stock Up 1.3%

NYSE GSL traded up $0.32 on Monday, hitting $25.17. 196,433 shares of the stock were exchanged, compared to its average volume of 405,894. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. Global Ship Lease, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $30.32. The company has a market cap of $892.20 million, a PE ratio of 2.79 and a beta of 1.10. The company has a 50-day moving average price of $22.15 and a 200-day moving average price of $22.18.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The shipping company reported $2.65 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 the consensus estimate of $171.73 million. During the same quarter in the prior year, the business posted $2.53 EPS. Sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 8.34%. The ex-dividend date is Friday, May 23rd. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's dividend payout ratio (DPR) is currently 19.83%.

About Global Ship Lease

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.