Global Ship Lease, Inc. (NYSE:GSL) Holdings Boosted by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. increased its stake in Global Ship Lease, Inc. by 35.8% during Q1, owning 43,650 shares valued at approximately $997,000.
• Global Ship Lease recently reported a quarterly EPS of $2.65, exceeding expectations of $2.27, alongside a revenue of $190.98 million.
• The company announced a quarterly dividend of $0.525 per share, resulting in a 7.4% dividend yield, an increase from the previous dividend of $0.45.

Moors & Cabot Inc. lifted its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 35.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,650 shares of the shipping company's stock after purchasing an additional 11,500 shares during the period. Moors & Cabot Inc. owned about 0.12% of Global Ship Lease worth $997,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. raised 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 valued at $56,000 after buying an additional 717 shares during the last quarter. Isthmus Partners LLC raised its holdings in shares of Global Ship Lease by 0.7% during the first quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company's stock valued at $2,596,000 after buying an additional 793 shares during the last quarter. WealthCollab LLC raised its holdings in shares of Global Ship Lease by 64.1% during the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock valued at $57,000 after buying an additional 1,021 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after buying an additional 1,577 shares during the last quarter. Finally, Pinnacle Holdings LLC raised its holdings in shares of Global Ship Lease by 88.8% during the fourth quarter. Pinnacle Holdings LLC now owns 3,359 shares of the shipping company's stock valued at $73,000 after buying an additional 1,580 shares during the last quarter. Institutional investors own 50.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GSL. Jefferies Financial Group lifted their price target on Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a report on Monday, May 19th. Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target on the stock. in a report on Thursday, May 22nd. Finally, Wall Street Zen downgraded Global Ship Lease from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

Global Ship Lease Price Performance

Global Ship Lease stock traded up $0.28 during midday trading on Tuesday, hitting $28.87. The company's stock had a trading volume of 135,235 shares, compared to its average volume of 376,493. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.40. The stock's 50-day moving average price is $26.82 and its 200-day moving average price is $23.76. Global Ship Lease, Inc. has a 12 month low of $17.73 and a 12 month high of $29.67. The company has a market capitalization of $1.02 billion, a PE ratio of 2.75 and a beta of 1.21.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.15 by $0.52. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. Analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd were issued a $0.525 dividend. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, May 23rd. Global Ship Lease's dividend payout ratio is currently 19.83%.

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.