Exchange Traded Concepts LLC Buys Shares of 10,668 Global Ship Lease, Inc. (NYSE:GSL)

Exchange Traded Concepts LLC bought a new position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,668 shares of the shipping company's stock, valued at approximately $244,000.

Several other institutional investors have also recently made changes to their positions in GSL. CIBC Private Wealth Group LLC increased its stake in Global Ship Lease by 6,856.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock worth $36,000 after buying an additional 1,577 shares during the period. SBI Securities Co. Ltd. purchased a new position in Global Ship Lease in the 4th quarter worth about $37,000. Steward Partners Investment Advisory LLC purchased a new position in Global Ship Lease in the 4th quarter worth about $46,000. WealthCollab LLC increased its stake in 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 period. Finally, Pinnacle Holdings LLC increased its stake in Global Ship Lease by 88.8% in the 4th quarter. Pinnacle Holdings LLC now owns 3,359 shares of the shipping company's stock worth $73,000 after buying an additional 1,580 shares during the period. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Down 1.6%

NYSE GSL traded down $0.42 during trading on Monday, reaching $25.63. 412,591 shares of the company's stock traded hands, compared to its average volume of 392,659. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.77 and a quick ratio of 1.71. The firm has a market cap of $908.62 million, a price-to-earnings ratio of 2.42 and a beta of 1.19. The company's 50 day simple moving average is $23.77 and its two-hundred day simple moving average is $22.57. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $30.19.

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

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd were given a dividend of $0.525 per share. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date was Friday, May 23rd. This represents a $2.10 dividend on an annualized basis and a yield of 8.19%. Global Ship Lease's dividend payout ratio (DPR) is 19.83%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GSL shares. 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 note 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. Finally, Jefferies Financial Group raised their price target 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.