Charles Schwab Investment Management Inc. Has $1.73 Million Stake in Global Ship Lease, Inc. $GSL

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Global Ship Lease, Inc. by 351.0% during the 1st quarter, now owning 75,644 shares valued at approximately $1.73 million.
• Global Ship Lease recently announced a quarterly dividend of $0.525 per share, resulting in an annualized dividend yield of 7.0%.
• Analysts have differing views on GSL, with Jefferies maintaining a buy rating and a price target of $33.00, while Clarkson Capital downgraded the stock to a hold rating.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 351.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 75,644 shares of the shipping company's stock after acquiring an additional 58,872 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.21% of Global Ship Lease worth $1,728,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. lifted its holdings 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 during the last quarter. Isthmus Partners LLC lifted its holdings in Global Ship Lease by 0.7% during the 1st quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company's stock valued at $2,596,000 after purchasing an additional 793 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Global Ship Lease by 9.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,012 shares of the shipping company's stock valued at $503,000 after purchasing an additional 1,988 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Global Ship Lease by 2.6% during the 4th quarter. Ameriprise Financial Inc. now owns 92,003 shares of the shipping company's stock valued at $2,008,000 after purchasing an additional 2,373 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Global Ship Lease by 3.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 91,710 shares of the shipping company's stock valued at $2,096,000 after purchasing an additional 2,983 shares during the last quarter. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Price Performance

GSL traded up $0.49 during midday trading on Friday, hitting $31.38. The company had a trading volume of 266,223 shares, compared to its average volume of 315,780. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 2.01. The company has a market capitalization of $1.11 billion, a PE ratio of 2.91 and a beta of 1.12. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $31.41. The firm's 50-day simple moving average is $28.96 and its 200-day simple moving average is $25.13.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.52. The firm 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%. Equities research analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.7%. The ex-dividend date was Friday, August 22nd. Global Ship Lease's dividend payout ratio (DPR) is presently 19.50%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and set a $33.00 price target on shares of Global Ship Lease in a report on Tuesday, August 5th. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Clarkson Capital downgraded shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target for the company. in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.50.

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.