Global Ship Lease, Inc. $GSL Shares Sold by Jump Financial LLC

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 cut its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 51.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,420 shares of the shipping company's stock after selling 28,488 shares during the quarter. Jump Financial LLC owned 0.08% of Global Ship Lease worth $627,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GSL. SVB Wealth LLC acquired a new stake in shares of Global Ship Lease during the first quarter worth $33,000. SBI Securities Co. Ltd. lifted its holdings 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 purchasing an additional 717 shares during the period. NBC Securities Inc. lifted its holdings 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 purchasing an additional 3,340 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of Global Ship Lease during the first quarter worth $194,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Global Ship Lease during the first quarter worth $204,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on GSL. Clarkson Capital downgraded Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price for the company. in a report on Thursday, May 22nd. Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 price target on shares of Global Ship Lease in a report on Tuesday, August 5th. One equities 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, Global Ship Lease currently has a consensus rating of "Moderate Buy" and an average target price of $30.50.

Global Ship Lease Price Performance

Shares of NYSE:GSL traded up $0.22 during midday trading on Friday, hitting $31.11. 113,078 shares of the stock were exchanged, compared to its average volume of 377,447. The stock has a market cap of $1.10 billion, a P/E ratio of 2.89 and a beta of 1.12. 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 $31.28. The company has a 50 day moving average price of $28.86 and a 200-day moving average price of $25.07.

Global Ship Lease (NYSE:GSL - Get Free Report) last released 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. 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, research analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, August 22nd. Global Ship Lease's payout ratio is 19.50%.

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.