Capital Advisory Group Advisory Services LLC Purchases Shares of 47,192 Global Ship Lease, Inc. $GSL

Key Points

• Capital Advisory Group Advisory Services LLC has acquired 47,192 shares of Global Ship Lease, valued at approximately $1.24 million, representing about 0.13% of the company's total shares.
• Global Ship Lease recently announced an increase in its quarterly dividend to $0.5469, which translates to an annualized dividend yield of 6.7%.
• The stock has been rated with a consensus of "Moderate Buy," with a price target set at $30.50, reflecting a positive outlook from analysts after recent earnings exceeded expectations.

Capital Advisory Group Advisory Services LLC purchased a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 47,192 shares of the shipping company's stock, valued at approximately $1,242,000. Capital Advisory Group Advisory Services LLC owned approximately 0.13% of Global Ship Lease at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SVB Wealth LLC acquired a new position in Global Ship Lease during the 1st quarter valued at approximately $33,000. SBI Securities Co. Ltd. increased its stake in Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock valued at $56,000 after purchasing an additional 717 shares in the last quarter. NBC Securities Inc. increased its stake in Global Ship Lease by 111,333.3% during the 1st quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock valued at $76,000 after purchasing an additional 3,340 shares in the last quarter. Quarry LP increased its stake in Global Ship Lease by 321.6% during the 1st quarter. Quarry LP now owns 8,222 shares of the shipping company's stock valued at $188,000 after purchasing an additional 6,272 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Global Ship Lease in the first quarter worth $194,000. Institutional investors and hedge funds own 50.08% of the company's stock.

Analyst Ratings Changes

GSL has been the topic of a number of research reports. Clarkson Capital lowered shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective on the stock. in a research note on Thursday, May 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 price objective on shares of Global Ship Lease in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $32.45 on Thursday. The firm has a 50-day simple moving average of $29.79 and a 200-day simple moving average of $25.66. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 3.01 and a beta of 1.12. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $33.05.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.52. The business had revenue of $191.86 million during the quarter, compared to analysts' expectations of $177.98 million. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. On average, equities analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 24th will be given a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Global Ship Lease's previous quarterly dividend of $0.53. Global Ship Lease's dividend payout ratio is 19.50%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.