Crescent Grove Advisors LLC Has $1.43 Million Holdings in Global Ship Lease, Inc. $GSL

Key Points

• Crescent Grove Advisors LLC sharply reduced its position in Global Ship Lease by 74.3% in the first quarter, selling 110,987 shares and ending with 38,484 shares worth about $1.43 million.
• Global Ship Lease posted strong quarterly results, reporting EPS of $2.56 versus $2.40 expected and revenue of $198.08 million versus $182.87 million forecast, while also raising its profile with a 6.2% dividend yield.
• Wall Street sentiment remains generally positive, with the stock carrying a Moderate Buy consensus rating and a $46.50 average price target, even as shares fell 3.4% to $40.23 in Friday trading.

Crescent Grove Advisors LLC cut its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 74.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,484 shares of the shipping company's stock after selling 110,987 shares during the period. Crescent Grove Advisors LLC owned about 0.11% of Global Ship Lease worth $1,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Two Sigma Investments LP boosted its stake in Global Ship Lease by 2.7% in the third quarter. Two Sigma Investments LP now owns 626,787 shares of the shipping company's stock worth $19,242,000 after purchasing an additional 16,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Global Ship Lease by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company's stock valued at $16,136,000 after buying an additional 31,047 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Global Ship Lease by 23.4% in the third quarter. Qube Research & Technologies Ltd now owns 567,442 shares of the shipping company's stock valued at $17,420,000 after buying an additional 107,651 shares in the last quarter. CSM Advisors LLC raised its holdings in shares of Global Ship Lease by 3.0% in the fourth quarter. CSM Advisors LLC now owns 446,060 shares of the shipping company's stock valued at $15,629,000 after buying an additional 13,141 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Global Ship Lease by 4.8% in the fourth quarter. State Street Corp now owns 331,619 shares of the shipping company's stock valued at $11,620,000 after buying an additional 15,176 shares during the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GSL. Jefferies Financial Group initiated coverage on shares of Global Ship Lease in a report on Friday, April 24th. They set a "buy" rating and a $45.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Global Ship Lease in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Fearnley Fonds raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Finally, Zacks Research cut shares of Global Ship Lease from a "hold" rating to a "strong sell" rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.50.

Global Ship Lease Trading Down 3.4%

Shares of GSL opened at $40.23 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. Global Ship Lease, Inc. has a 12-month low of $27.28 and a 12-month high of $42.70. The firm has a market capitalization of $1.44 billion, a PE ratio of 3.82 and a beta of 0.90. The stock's fifty day simple moving average is $39.04 and its 200-day simple moving average is $38.32.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings data on Friday, May 22nd. The shipping company reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.16. The firm had revenue of $198.08 million during the quarter, compared to analyst estimates of $182.87 million. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.Global Ship Lease's revenue was up 3.7% on a year-over-year basis. As a group, research analysts predict that Global Ship Lease, Inc. will post 9.5 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were given a dividend of $0.625 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.50 annualized dividend and a dividend yield of 6.2%. Global Ship Lease's payout ratio is currently 23.74%.

Global Ship Lease Profile

Global Ship Lease NYSE: GSL is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.

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