14,807 Shares in Global Ship Lease, Inc. $GSL Acquired by Ethos Financial Group LLC

Key Points

• Ethos Financial Group LLC has made a new investment of approximately $338,000 in Global Ship Lease, Inc., acquiring 14,807 shares in the first quarter.
• Several hedge funds have also adjusted their holdings in Global Ship Lease, with Crescent Grove Advisors LLC increasing its position by 137.1% to now own shares worth $1,614,000.
• Global Ship Lease recently announced a quarterly dividend of $0.525 per share, resulting in a 6.9% dividend yield for investors.

Ethos Financial Group LLC bought a new position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,807 shares of the shipping company's stock, valued at approximately $338,000.

Other hedge funds have also made changes to their positions in the company. Crescent Grove Advisors LLC boosted its stake in shares of Global Ship Lease by 137.1% during the first quarter. Crescent Grove Advisors LLC now owns 70,617 shares of the shipping company's stock worth $1,614,000 after buying an additional 40,828 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Global Ship Lease during the first quarter worth about $244,000. Janney Montgomery Scott LLC boosted its stake in shares of Global Ship Lease by 3.4% during the first quarter. Janney Montgomery Scott LLC now owns 91,710 shares of the shipping company's stock worth $2,096,000 after buying an additional 2,983 shares during the period. Redhawk Wealth Advisors Inc. boosted its stake in shares of Global Ship Lease by 34.7% during the first quarter. Redhawk Wealth Advisors Inc. now owns 46,158 shares of the shipping company's stock worth $1,055,000 after buying an additional 11,892 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Global Ship Lease during the first quarter worth about $204,000. Institutional investors and hedge funds own 50.08% of the company's stock.

Wall Street Analyst Weigh In

GSL has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $33.00 price objective on shares of Global Ship Lease in a research report on Tuesday, August 5th. 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. Finally, Clarkson Capital downgraded shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Global Ship Lease currently has a consensus rating of "Moderate Buy" and an average target price of $30.50.

Global Ship Lease Price Performance

Shares of GSL traded down $0.3030 on Friday, reaching $29.7770. The stock had a trading volume of 305,329 shares, compared to its average volume of 386,479. The firm has a market capitalization of $1.06 billion, a PE ratio of 2.76 and a beta of 1.21. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $28.15 and a 200 day moving average of $24.58. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $30.98.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.52. The firm 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%. Sell-side analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 22nd will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.10 annualized dividend and a yield of 7.1%. Global Ship Lease's payout ratio is currently 19.50%.

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.