Global Ship Lease, Inc. $GSL Stock Holdings Lifted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 137.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,098 shares of the shipping company's stock after buying an additional 24,333 shares during the period. Goldman Sachs Group Inc. owned approximately 0.12% of Global Ship Lease worth $962,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. PharVision Advisers LLC acquired a new stake in Global Ship Lease during the 1st quarter valued at $591,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Global Ship Lease during the 1st quarter valued at $13,304,000. Quarry LP raised its stake in Global Ship Lease by 321.6% during the 1st quarter. Quarry LP now owns 8,222 shares of the shipping company's stock valued at $188,000 after purchasing an additional 6,272 shares during the period. Vident Advisory LLC grew its holdings in shares of Global Ship Lease by 3.9% during the 1st quarter. Vident Advisory LLC now owns 44,162 shares of the shipping company's stock valued at $1,009,000 after acquiring an additional 1,640 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Global Ship Lease by 14.5% during the 1st quarter. State of Wyoming now owns 15,496 shares of the shipping company's stock valued at $354,000 after acquiring an additional 1,962 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Stock Performance

NYSE:GSL opened at $32.10 on Tuesday. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $33.08. 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 firm has a market capitalization of $1.14 billion, a PE ratio of 2.98 and a beta of 1.12. The firm has a 50-day moving average price of $30.07 and a 200 day moving average price of $25.91.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.52. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. The firm had revenue of $191.86 million during the quarter, compared to analyst estimates of $177.98 million. Research analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 24th will be paid a dividend of $0.5469 per share. This represents a $2.19 annualized dividend and a yield of 6.8%. This is a boost from Global Ship Lease's previous quarterly dividend of $0.53. Global Ship Lease's dividend payout ratio is currently 19.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group restated a "buy" rating and set a $33.00 price target on shares of Global Ship Lease in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

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.

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