LPL Financial LLC Purchases 26,542 Shares of Global Ship Lease, Inc. $GSL

Key Points

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LPL Financial LLC increased its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 34.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,897 shares of the shipping company's stock after buying an additional 26,542 shares during the quarter. LPL Financial LLC owned about 0.29% of Global Ship Lease worth $2,351,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Crescent Grove Advisors LLC grew its position in 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 in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Global Ship Lease in the 1st quarter valued at $244,000. Janney Montgomery Scott LLC increased its stake in shares of Global Ship Lease by 3.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 91,710 shares of the shipping company's stock valued at $2,096,000 after purchasing an additional 2,983 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its stake in shares of Global Ship Lease by 34.7% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 46,158 shares of the shipping company's stock valued at $1,055,000 after purchasing an additional 11,892 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Global Ship Lease in the 1st quarter valued at $204,000. Institutional investors and hedge funds own 50.08% of the company's stock.

Global Ship Lease Trading Down 1.0%

Shares of GSL 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 386,479. The stock has a market cap of $1.06 billion, a PE ratio of 2.76 and a beta of 1.21. The stock's 50 day simple moving average is $28.15 and its 200 day simple moving average is $24.60. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. 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 posted its quarterly earnings data on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.52. The business 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%. On average, sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be paid a $0.525 dividend. The ex-dividend date of this dividend 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 is presently 19.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Clarkson Capital lowered 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. Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 price target on shares of Global Ship Lease in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.50.

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.