LPL Financial LLC Grows Position in Global Ship Lease, Inc. $GSL

Key Points

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LPL Financial LLC raised its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 34.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,897 shares of the shipping company's stock after acquiring an additional 26,542 shares during the period. LPL Financial LLC owned approximately 0.29% of Global Ship Lease worth $2,351,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings 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 purchasing an additional 6,856 shares in the last quarter. Foundry Partners LLC increased its holdings in shares of Global Ship Lease by 1.5% during the 1st quarter. Foundry Partners LLC now owns 511,215 shares of the shipping company's stock valued at $11,681,000 after purchasing an additional 7,470 shares in the last quarter. Whitefort Capital Management LP increased its holdings in shares of Global Ship Lease by 0.8% during the 4th quarter. Whitefort Capital Management LP now owns 369,768 shares of the shipping company's stock valued at $8,072,000 after purchasing an additional 2,997 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Global Ship Lease by 182.9% during the 1st quarter. SG Americas Securities LLC now owns 180,858 shares of the shipping company's stock valued at $4,133,000 after purchasing an additional 116,917 shares in the last quarter. Finally, Isthmus Partners LLC increased its holdings in shares of Global Ship Lease by 0.7% during the 1st quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company's stock valued at $2,596,000 after purchasing an additional 793 shares in the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GSL. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Jefferies Financial Group reaffirmed a "buy" rating and set a $33.00 target price on shares of Global Ship Lease in a report on Tuesday, August 5th. Finally, Clarkson Capital lowered shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price for the company. in a report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Global Ship Lease Price Performance

NYSE GSL traded down $0.3030 on Friday, hitting $29.7770. The company had a trading volume of 305,329 shares, compared to its average volume of 386,479. The company has a market capitalization of $1.06 billion, a PE ratio of 2.76 and a beta of 1.21. The company's fifty day moving average price is $28.15 and its 200-day moving average price is $24.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $30.98.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.15 by $0.52. The company had revenue of $191.86 million during 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%. As a group, analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

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