Jump Financial LLC Cuts Holdings in Global Ship Lease, Inc. $GSL

Key Points

• Jump Financial LLC has reduced its stake in Global Ship Lease, Inc. by 51.0%, selling 28,488 shares and now holding 27,420 shares valued at approximately $627,000.
• Global Ship Lease has recently posted strong quarterly earnings, reporting $2.67 EPS, exceeding analyst estimates of $2.15, with revenue of $191.86 million.
• The company declared a quarterly dividend of $0.525 per share, reflecting an annualized yield of 7.0%, payable on September 4th to investors of record as of August 22nd.

Jump Financial LLC lessened its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 51.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,420 shares of the shipping company's stock after selling 28,488 shares during the period. Jump Financial LLC owned about 0.08% of Global Ship Lease worth $627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SVB Wealth LLC bought a new position in Global Ship Lease during the 1st quarter valued at approximately $33,000. SBI Securities Co. Ltd. raised its position in 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 valued at $56,000 after purchasing an additional 717 shares during the last quarter. NBC Securities Inc. raised its position in 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 valued at $76,000 after purchasing an additional 3,340 shares during the last quarter. Highline Wealth Partners LLC bought a new position in Global Ship Lease during the 1st quarter valued at approximately $194,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Global Ship Lease during the 1st quarter valued at approximately $204,000. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Down 0.3%

GSL traded down $0.09 during trading on Thursday, hitting $30.59. 143,656 shares of the company's stock traded hands, compared to its average volume of 378,345. The company's 50 day simple moving average is $28.77 and its two-hundred day simple moving average is $25.02. 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 12-month low of $17.73 and a 12-month high of $30.98. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 2.84 and a beta of 1.12.

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

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, August 22nd. Global Ship Lease's dividend payout ratio (DPR) is currently 19.50%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Clarkson Capital lowered 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 report on Thursday, May 22nd. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $33.00 target price 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. According to data from MarketBeat.com, Global Ship Lease presently has a consensus 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.