Charles Schwab Investment Management Inc. Acquires 58,872 Shares of 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. boosted its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 351.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,644 shares of the shipping company's stock after acquiring an additional 58,872 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.21% of Global Ship Lease worth $1,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its holdings in shares of 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 buying an additional 717 shares during the period. NBC Securities Inc. increased its stake in shares of Global Ship Lease by 111,333.3% in the 1st quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock worth $76,000 after purchasing an additional 3,340 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Global Ship Lease in the 1st quarter worth $194,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Global Ship Lease in the 1st quarter worth $204,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Global Ship Lease in the 4th quarter worth $224,000. 50.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on GSL. Clarkson Capital lowered Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a research note on Thursday, May 22nd. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 price target on shares of Global Ship Lease in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.50.

Global Ship Lease Price Performance

GSL stock traded down $0.03 during trading on Thursday, reaching $30.66. The company's stock had a trading volume of 123,716 shares, compared to its average volume of 378,223. The company has a market capitalization of $1.09 billion, a P/E ratio of 2.85 and a beta of 1.12. The company's fifty day moving average is $28.77 and its 200-day moving average is $25.02. 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 1 year low of $17.73 and a 1 year high of $30.98.

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

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.525 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.9%. Global Ship Lease's dividend payout ratio (DPR) is presently 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.