Counterpoint Mutual Funds LLC Makes New Investment in Global Ship Lease, Inc. $GSL

Key Points

• Counterpoint Mutual Funds LLC has acquired 28,497 shares of Global Ship Lease, valued at approximately $750,000, marking a new investment during the 2nd quarter.
• Global Ship Lease recently announced an increase in its quarterly dividend to $0.5469 per share, reflecting a dividend yield of 6.8% and a payout ratio of 19.50%.
• Analysts have upgraded Global Ship Lease to a "buy" rating, with an average price target of $30.50, following the company beating earnings estimates by reporting an EPS of $2.67.

Counterpoint Mutual Funds LLC acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 28,497 shares of the shipping company's stock, valued at approximately $750,000. Counterpoint Mutual Funds LLC owned about 0.08% of Global Ship Lease as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in shares of Global Ship Lease in the 2nd quarter valued at approximately $26,000. SVB Wealth LLC bought a new stake in shares of Global Ship Lease in the 1st quarter valued at approximately $33,000. SBI Securities Co. Ltd. increased its holdings in shares of Global Ship Lease by 41.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock valued at $56,000 after acquiring an additional 717 shares during the last quarter. NBC Securities Inc. increased its holdings 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 valued at $76,000 after acquiring an additional 3,340 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Global Ship Lease by 321.6% in the 1st quarter. Quarry LP now owns 8,222 shares of the shipping company's stock valued at $188,000 after acquiring an additional 6,272 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GSL shares. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Jefferies Financial Group restated a "buy" rating and set a $33.00 price objective on shares of Global Ship Lease in a research report on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $30.50.

Global Ship Lease Trading Up 0.8%

Shares of NYSE GSL opened at $32.10 on Tuesday. Global Ship Lease, Inc. has a 12 month low of $17.73 and a 12 month high of $33.08. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 2.98 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. The business has a fifty day simple moving average of $30.07 and a 200-day simple moving average of $25.91.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, beating 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 business had revenue of $191.86 million during the quarter, compared to the consensus estimate of $177.98 million. Sell-side analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 24th will be issued a dividend of $0.5469 per share. This represents a $2.19 annualized dividend and a dividend yield of 6.8%. This is an increase from Global Ship Lease's previous quarterly dividend of $0.53. Global Ship Lease's dividend payout ratio is currently 19.50%.

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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