Crescent Grove Advisors LLC Boosts Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Crescent Grove Advisors LLC boosted its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 137.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,617 shares of the shipping company's stock after purchasing an additional 40,828 shares during the quarter. Crescent Grove Advisors LLC owned about 0.20% of Global Ship Lease worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Donald Smith & CO. Inc. lifted its stake in Global Ship Lease by 69.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock worth $68,535,000 after purchasing an additional 1,281,941 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Global Ship Lease by 34.9% in the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock worth $13,747,000 after purchasing an additional 162,900 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Global Ship Lease by 1.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 526,769 shares of the shipping company's stock worth $12,037,000 after purchasing an additional 6,856 shares in the last quarter. Foundry Partners LLC lifted its stake in Global Ship Lease by 5.8% in the 4th quarter. Foundry Partners LLC now owns 503,745 shares of the shipping company's stock worth $10,997,000 after purchasing an additional 27,789 shares in the last quarter. Finally, Whitefort Capital Management LP lifted its stake in Global Ship Lease by 0.8% in the 4th quarter. Whitefort Capital Management LP now owns 369,768 shares of the shipping company's stock worth $8,072,000 after purchasing an additional 2,997 shares in the last quarter. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Stock Performance

Global Ship Lease stock opened at $26.57 on Friday. The firm's fifty day moving average price is $24.23 and its 200-day moving average price is $22.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.71 and a current ratio of 1.77. The stock has a market cap of $941.73 million, a P/E ratio of 2.51 and a beta of 1.19. Global Ship Lease, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $29.45.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings data on Monday, May 19th. The shipping company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.38. The firm had revenue of $190.98 million for the quarter, compared to analysts' expectations of $171.73 million. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. During the same quarter last year, the company posted $2.53 EPS. On average, equities research analysts expect that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Friday, May 23rd were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.10 annualized dividend and a dividend yield of 7.91%. This is a boost from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's dividend payout ratio (DPR) is 19.83%.

Analyst Ratings Changes

Several research firms have issued reports on GSL. Jefferies Financial Group increased their target price on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Clarkson Capital cut 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 report on Thursday, May 22nd.

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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