12,209 Shares in Global Ship Lease, Inc. $GSL Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC invested approximately $279,000 in Global Ship Lease, Inc., acquiring 12,209 shares of the company in the first quarter.
• Several institutional investors increased their stakes in Global Ship Lease, with investments from SG Americas Securities LLC and Charles Schwab Investment Management among notable increases during the same period.
• The company's recent quarterly earnings surpassed analysts' expectations, reporting an EPS of $2.67 and revenue of $191.86 million, which led to a consensus rating of "Moderate Buy" from equity research analysts.

Hsbc Holdings PLC purchased a new position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,209 shares of the shipping company's stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. grew its stake in shares of Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock worth $56,000 after purchasing an additional 717 shares during the period. NBC Securities Inc. grew its stake in shares of Global Ship Lease by 111,333.3% during the 1st quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock worth $76,000 after purchasing an additional 3,340 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of Global Ship Lease in the 1st quarter worth about $194,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Global Ship Lease in the 1st quarter worth about $204,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Global Ship Lease in the 1st quarter worth about $244,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Global Ship Lease Stock Performance

Global Ship Lease stock traded up $0.05 during mid-day trading on Tuesday, reaching $31.72. The company's stock had a trading volume of 132,958 shares, compared to its average volume of 376,424. The business has a 50 day moving average price of $29.06 and a 200-day moving average price of $25.23. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $31.78. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 2.95 and a beta of 1.12.

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 analysts' consensus estimates of $2.15 by $0.52. The company had revenue of $191.86 million for the quarter, compared to the consensus estimate of $177.98 million. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. Sell-side analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Friday, August 22nd. Global Ship Lease's dividend payout ratio (DPR) is presently 19.50%.

Analysts Set New Price Targets

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