Global Ship Lease, Inc. $GSL Position Lowered by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. reduced its stake in Global Ship Lease, Inc. by 68.7% during the first quarter, now holding 17,728 shares worth $405,000.
• Global Ship Lease recently reported $2.67 earnings per share for the quarter, significantly exceeding analyst expectations of $2.15.
• The company declared a dividend of $0.525 per share, translating to a 6.8% yield, to be paid on September 4th.

Fox Run Management L.L.C. reduced its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 68.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,728 shares of the shipping company's stock after selling 38,992 shares during the period. Fox Run Management L.L.C. owned approximately 0.05% of Global Ship Lease worth $405,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GSL. SBI Securities Co. Ltd. increased its holdings in Global Ship Lease by 41.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock valued at $56,000 after purchasing an additional 717 shares in the last quarter. WealthCollab LLC increased its holdings in Global Ship Lease by 64.1% in the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock valued at $57,000 after purchasing an additional 1,021 shares in the last quarter. NBC Securities Inc. increased its holdings in Global Ship Lease by 111,333.3% in the 1st quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock valued at $76,000 after purchasing an additional 3,340 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in Global Ship Lease in the 1st quarter valued at $194,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Global Ship Lease in the 1st quarter valued at $204,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Stock Down 1.0%

Shares of Global Ship Lease stock traded down $0.3030 during trading hours on Friday, hitting $29.7770. 305,329 shares of the company's stock traded hands, compared to its average volume of 389,063. The stock has a 50 day simple moving average of $28.15 and a 200-day simple moving average of $24.62. 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 company has a market cap of $1.06 billion, a PE ratio of 2.76 and a beta of 1.21. 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 announced its earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.52. The company had revenue of $191.86 million during the quarter, compared to the consensus estimate of $177.98 million. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%. Equities research analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

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

Wall Street Analysts Forecast Growth

GSL has been the subject of several recent research reports. Clarkson Capital downgraded Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target for the company. in a report on Thursday, May 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 price target on shares of Global Ship Lease in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $30.50.

Global Ship Lease Company 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.