Exchange Traded Concepts LLC Takes $244,000 Position in Global Ship Lease, Inc. (NYSE:GSL)

Exchange Traded Concepts LLC acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,668 shares of the shipping company's stock, valued at approximately $244,000.

Other large investors have also recently bought and sold shares of the company. Donald Smith & CO. Inc. grew its position in shares of Global Ship Lease by 69.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock worth $68,535,000 after buying an additional 1,281,941 shares during the period. Renaissance Technologies LLC raised its position in shares of Global Ship Lease by 34.9% during the 4th quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock valued at $13,747,000 after acquiring an additional 162,900 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Global Ship Lease by 1.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 526,769 shares of the shipping company's stock valued at $12,037,000 after acquiring an additional 6,856 shares during the last quarter. Foundry Partners LLC raised its position in shares of Global Ship Lease by 5.8% during the 4th quarter. Foundry Partners LLC now owns 503,745 shares of the shipping company's stock valued at $10,997,000 after acquiring an additional 27,789 shares during the last quarter. Finally, Whitefort Capital Management LP boosted its position in shares of Global Ship Lease by 0.8% in the 4th quarter. Whitefort Capital Management LP now owns 369,768 shares of the shipping company's stock worth $8,072,000 after purchasing an additional 2,997 shares during the last quarter. Institutional investors and hedge funds own 50.08% of the company's stock.

Global Ship Lease Trading Up 0.2%

Shares of GSL stock traded up $0.07 on Thursday, hitting $26.22. The stock had a trading volume of 257,646 shares, compared to its average volume of 389,499. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.40. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $29.63. The company has a fifty day moving average price of $24.00 and a two-hundred day moving average price of $22.62. The firm has a market cap of $929.32 million, a P/E ratio of 2.48 and a beta of 1.19.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.38. Global Ship Lease had a return on equity of 25.56% and a net margin of 53.31%. The firm had revenue of $190.98 million for the quarter, compared to analyst estimates of $171.73 million. During the same period in the previous year, the company posted $2.53 earnings per share. As a group, analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Friday, May 23rd were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 8.01%. The ex-dividend date was Friday, May 23rd. This is a boost from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's payout ratio is 19.83%.

Analysts Set New Price Targets

GSL has been the subject of a number of recent analyst reports. Clarkson Capital downgraded Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a report on Thursday, May 22nd. Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th.

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.