Commons Capital LLC Buys 61,000 Shares of Global Ship Lease, Inc. $GSL

Key Points

• Commons Capital LLC increased its stake in Global Ship Lease, Inc. by 244%, owning a total of 86,000 shares after purchasing an additional 61,000 shares.
• Global Ship Lease recently declared a quarterly dividend of $0.5469, raising its annualized dividend yield to 7.7%, increasing from a previous $0.53 per share.
• Analysts upgraded Global Ship Lease's stock rating from "hold" to "strong-buy", with a consistent average price target of $30.50 across various firms.

Commons Capital LLC grew its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 244.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,000 shares of the shipping company's stock after purchasing an additional 61,000 shares during the period. Global Ship Lease makes up approximately 1.7% of Commons Capital LLC's holdings, making the stock its 15th largest holding. Commons Capital LLC owned approximately 0.24% of Global Ship Lease worth $2,263,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GSL. Parallel Advisors LLC grew its position in Global Ship Lease by 6.7% during the 2nd quarter. Parallel Advisors LLC now owns 9,342 shares of the shipping company's stock worth $246,000 after acquiring an additional 584 shares during the last quarter. SBI Securities Co. Ltd. grew its position 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 worth $56,000 after acquiring an additional 717 shares during the last quarter. Isthmus Partners LLC grew its position 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 worth $2,596,000 after acquiring an additional 793 shares during the last quarter. Highline Wealth Partners LLC grew its position in Global Ship Lease by 11.2% during the 2nd quarter. Highline Wealth Partners LLC now owns 9,450 shares of the shipping company's stock worth $249,000 after acquiring an additional 950 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in Global Ship Lease during the 2nd quarter worth approximately $26,000. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Stock Up 2.0%

NYSE:GSL opened at $28.40 on Thursday. The stock's fifty day moving average price is $30.53 and its two-hundred day moving average price is $26.66. Global Ship Lease, Inc. has a 52-week low of $17.73 and a 52-week high of $33.08. 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 cap of $1.02 billion, a price-to-earnings ratio of 2.64 and a beta of 1.20.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.52. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The firm had revenue of $191.86 million for the quarter, compared to the consensus estimate of $177.98 million. On average, analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 24th were paid a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 7.7%. This is an increase from Global Ship Lease's previous quarterly dividend of $0.53. Global Ship Lease's dividend payout ratio is 19.50%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Zacks Research upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research report on Monday. Jefferies Financial Group restated a "buy" rating and set a $33.00 price target on shares of Global Ship Lease in a research report on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Global Ship Lease in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $30.50.

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.

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