EntryPoint Capital LLC bought a new position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,925 shares of the shipping company's stock, valued at approximately $204,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new stake in Global Ship Lease in the first quarter worth approximately $279,000. Ethos Financial Group LLC bought a new stake in shares of Global Ship Lease during the 1st quarter valued at $338,000. Donald Smith & CO. Inc. grew its position in shares of Global Ship Lease by 2.6% during the first quarter. Donald Smith & CO. Inc. now owns 3,220,085 shares of the shipping company's stock valued at $73,579,000 after purchasing an additional 80,615 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Global Ship Lease by 351.0% during the first 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 in the last quarter. Finally, Atria Wealth Solutions Inc. grew its position in shares of Global Ship Lease by 40.0% during the first quarter. Atria Wealth Solutions Inc. now owns 14,000 shares of the shipping company's stock valued at $320,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company's stock.
Global Ship Lease Stock Performance
Shares of Global Ship Lease stock traded down $0.16 during trading on Friday, hitting $30.00. 178,928 shares of the company's stock were exchanged, compared to its average volume of 379,234. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 2.01. The business has a 50-day simple moving average of $28.42 and a 200-day simple moving average of $24.80. Global Ship Lease, Inc. has a 52-week low of $17.73 and a 52-week high of $30.98. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 2.78 and a beta of 1.21.
Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly 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. The company had revenue of $191.86 million for the quarter, compared to analyst estimates of $177.98 million. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. On average, research analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS 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. Investors of record on Friday, August 22nd will be given a dividend of $0.525 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 7.0%. Global Ship Lease's payout ratio is presently 19.50%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GSL. Clarkson Capital downgraded shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price on the stock. in a report on Thursday, May 22nd. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $33.00 price target on shares of Global Ship Lease in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.50.
Get Our Latest Stock Report on GSL
About Global Ship Lease
(
Free Report)
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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