Hsbc Holdings PLC Buys New Shares in Global Ship Lease, Inc. $GSL

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) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,209 shares of the shipping company's stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds have also modified their holdings of GSL. SBI Securities Co. Ltd. raised its stake in shares of Global Ship Lease by 41.9% during the first quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock worth $56,000 after buying an additional 717 shares during the last quarter. NBC Securities Inc. raised its stake in shares of Global Ship Lease by 111,333.3% during the first quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock worth $76,000 after buying an additional 3,340 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Global Ship Lease during the first quarter worth approximately $194,000. Y Intercept Hong Kong Ltd bought a new stake in Global Ship Lease in the first quarter valued at approximately $204,000. Finally, Exchange Traded Concepts LLC bought a new stake in Global Ship Lease in the first quarter valued at approximately $244,000. 50.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on GSL. Clarkson Capital downgraded 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 research note on Thursday, May 22nd. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $33.00 target price on shares of Global Ship Lease in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Global Ship Lease Stock Down 1.1%

Shares of GSL stock traded down $0.36 during trading hours on Wednesday, hitting $31.30. 277,303 shares of the company were exchanged, compared to its average volume of 297,309. The business has a 50 day moving average of $29.27 and a two-hundred day moving average of $25.31. 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 52 week low of $17.73 and a 52 week high of $31.78. The company has a market capitalization of $1.11 billion, a PE ratio of 2.91 and a beta of 1.12.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $191.86 million during the quarter, compared to the consensus estimate of $177.98 million. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.10 annualized dividend and a dividend yield of 6.7%. Global Ship Lease's dividend payout ratio is currently 19.50%.

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.