Donald Smith & CO. Inc. Purchases 80,615 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Key Points

• Donald Smith & CO. Inc. has increased its stake in Global Ship Lease, acquiring an additional 80,615 shares, which raises its total ownership to 3,220,085 shares and makes Global Ship Lease about 1.8% of its investment portfolio.
• Global Ship Lease recently reported $191.86 million in revenue for the quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.525 per share, reflecting a 7.0% dividend yield.
• Multiple institutional investors have increased their stakes in Global Ship Lease, with Charles Schwab Investment Management leading with a 351.0% stake increase during the first quarter.

Donald Smith & CO. Inc. raised its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,220,085 shares of the shipping company's stock after buying an additional 80,615 shares during the quarter. Global Ship Lease comprises 1.8% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 24th largest position. Donald Smith & CO. Inc. owned approximately 9.08% of Global Ship Lease worth $73,579,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its position 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 worth $56,000 after buying an additional 717 shares during the last quarter. WealthCollab LLC grew its position in shares of Global Ship Lease by 64.1% in the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after buying an additional 1,021 shares during the last quarter. NBC Securities Inc. grew its position 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 buying an additional 3,340 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Global Ship Lease in the 1st quarter worth approximately $194,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Global Ship Lease in the 1st quarter worth approximately $204,000. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Stock Up 1.8%

NYSE:GSL traded up $0.55 during trading hours on Tuesday, reaching $30.66. 366,002 shares of the company traded hands, compared to its average volume of 381,317. The business's 50-day moving average price is $27.43 and its two-hundred day moving average price is $24.11. The stock has a market capitalization of $1.09 billion, a P/E ratio of 2.85 and a beta of 1.21. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $30.98. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37.

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

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 22nd. Global Ship Lease's dividend payout ratio is presently 19.50%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group restated a "buy" rating and issued a $33.00 target price on shares of Global Ship Lease in a research note on Tuesday, August 5th. Finally, Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price for the company. in a research note on Thursday, May 22nd.

Global Ship Lease 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.