PharVision Advisers LLC Makes New Investment in Global Ship Lease, Inc. $GSL

Key Points

• PharVision Advisers LLC has purchased a new stake in Global Ship Lease, acquiring 25,843 shares worth approximately $591,000, making it the firm's 5th largest holding.
• Global Ship Lease reported a strong quarterly performance with an EPS of $2.67, surpassing estimates and achieving a 53.09% net margin.
• The company recently declared a quarterly dividend of $0.525, resulting in an annualized dividend yield of 6.7%.

PharVision Advisers LLC acquired a new stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,843 shares of the shipping company's stock, valued at approximately $591,000. Global Ship Lease comprises approximately 0.8% of PharVision Advisers LLC's holdings, making the stock its 5th biggest position. PharVision Advisers LLC owned approximately 0.07% of Global Ship Lease at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new stake in Global Ship Lease in the first quarter valued at about $33,000. SBI Securities Co. Ltd. increased its holdings in Global Ship Lease by 41.9% in 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. NBC Securities Inc. increased its holdings in Global Ship Lease by 111,333.3% in the first quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock valued at $76,000 after buying an additional 3,340 shares during the last quarter. Quarry LP increased its holdings in Global Ship Lease by 321.6% in the first quarter. Quarry LP now owns 8,222 shares of the shipping company's stock valued at $188,000 after buying an additional 6,272 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in Global Ship Lease in the first quarter valued at about $194,000. 50.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Clarkson Capital lowered Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a report on Thursday, May 22nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $33.00 target price on shares of Global Ship Lease in a report on Tuesday, August 5th. Finally, Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $30.50.

Global Ship Lease Stock Performance

Shares of NYSE GSL traded up $0.17 during midday trading on Thursday, hitting $31.46. 139,633 shares of the company's stock were exchanged, compared to its average volume of 375,434. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. The stock's 50 day moving average price is $29.27 and its 200-day moving average price is $25.31. The firm has a market cap of $1.12 billion, a P/E ratio of 2.92 and a beta of 1.12. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $31.78.

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. 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%. Equities research analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 24th will be given a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 7.0%. This is an increase from Global Ship Lease's previous quarterly dividend of $0.53. Global Ship Lease's dividend payout ratio is 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.