Donald Smith & CO. Inc. Has $73.58 Million Holdings in 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. increased its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 2.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,220,085 shares of the shipping company's stock after buying an additional 80,615 shares during the period. Global Ship Lease comprises approximately 1.8% of Donald Smith & CO. Inc.'s holdings, making the stock its 24th biggest position. Donald Smith & CO. Inc. owned 9.08% of Global Ship Lease worth $73,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC lifted its position 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 valued at $13,747,000 after purchasing an additional 162,900 shares during the last quarter. SG Americas Securities LLC lifted its position in Global Ship Lease by 182.9% in the 1st quarter. SG Americas Securities LLC now owns 180,858 shares of the shipping company's stock valued at $4,133,000 after purchasing an additional 116,917 shares during the last quarter. GSA Capital Partners LLP lifted its position in Global Ship Lease by 208.7% in the 1st quarter. GSA Capital Partners LLP now owns 114,989 shares of the shipping company's stock valued at $2,627,000 after purchasing an additional 77,743 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Global Ship Lease by 351.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 75,644 shares of the shipping company's stock valued at $1,728,000 after purchasing an additional 58,872 shares during the last quarter. Finally, Crescent Grove Advisors LLC lifted its position in Global Ship Lease by 137.1% in the 1st quarter. Crescent Grove Advisors LLC now owns 70,617 shares of the shipping company's stock valued at $1,614,000 after purchasing an additional 40,828 shares during the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Price Performance

Shares of GSL stock traded down $0.40 during midday trading on Thursday, reaching $30.30. 181,667 shares of the company were exchanged, compared to its average volume of 383,542. Global Ship Lease, Inc. has a 12 month low of $17.73 and a 12 month high of $30.98. The company has a market cap of $1.07 billion, a P/E ratio of 2.81 and a beta of 1.21. The company's 50 day moving average price is $27.54 and its two-hundred day moving average price is $24.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 2.01.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.52. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. The business had revenue of $191.86 million for the quarter, compared to the consensus estimate of $177.98 million. On average, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 22nd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, August 22nd. Global Ship Lease's payout ratio is presently 19.50%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GSL. Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 price objective on shares of Global Ship Lease in a research report on Tuesday, August 5th. Clarkson Capital downgraded shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target on the stock. in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th.

About Global Ship Lease

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.