Kingstone Capital Partners Texas LLC purchased a new position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,610,414 shares of the shipping company's stock, valued at approximately $68,680,000. Kingstone Capital Partners Texas LLC owned about 7.36% of Global Ship Lease at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in GSL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Global Ship Lease during the first quarter worth approximately $13,304,000. SG Americas Securities LLC lifted its holdings in shares of Global Ship Lease by 182.9% in the 1st quarter. SG Americas Securities LLC now owns 180,858 shares of the shipping company's stock valued at $4,133,000 after purchasing an additional 116,917 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of Global Ship Lease by 2.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,220,085 shares of the shipping company's stock valued at $73,579,000 after purchasing an additional 80,615 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Global Ship Lease by 208.7% in the 1st quarter. GSA Capital Partners LLP now owns 114,989 shares of the shipping company's stock valued at $2,627,000 after purchasing an additional 77,743 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Global Ship Lease by 351.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 75,644 shares of the shipping company's stock valued at $1,728,000 after purchasing an additional 58,872 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company's stock.
Global Ship Lease Stock Performance
Global Ship Lease stock traded up $0.23 during trading hours on Monday, reaching $32.09. 155,191 shares of the stock were exchanged, compared to its average volume of 374,337. The stock has a market cap of $1.14 billion, a P/E ratio of 2.98 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 2.01. Global Ship Lease, Inc. has a 52-week low of $17.73 and a 52-week high of $33.08. The firm's 50 day moving average is $29.98 and its 200 day moving average is $25.85.
Global Ship Lease (NYSE:GSL - Get Free Report) last released 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. The firm had revenue of $191.86 million during the quarter, compared to analysts' expectations of $177.98 million. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%. Analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.
Global Ship Lease Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 24th will be issued a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 6.8%. This is an increase from Global Ship Lease's previous quarterly dividend of $0.53. Global Ship Lease's dividend payout ratio (DPR) is currently 19.50%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on GSL. Jefferies Financial Group reiterated a "buy" rating and issued a $33.00 price objective on shares of Global Ship Lease in a research note on Tuesday, August 5th. 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. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.50.
Check Out Our Latest Analysis on Global Ship Lease
Global Ship Lease Profile
(
Free Report)
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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