PharVision Advisers LLC Invests $591,000 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 first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,843 shares of the shipping company's stock, valued at approximately $591,000. Global Ship Lease accounts for about 0.8% of PharVision Advisers LLC's portfolio, making the stock its 5th largest holding. PharVision Advisers LLC owned approximately 0.07% of Global Ship Lease as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Global Ship Lease during the first quarter valued at about $13,304,000. Quarry LP boosted its position in shares of Global Ship Lease by 321.6% in the 1st quarter. Quarry LP now owns 8,222 shares of the shipping company's stock worth $188,000 after purchasing an additional 6,272 shares in the last quarter. Vident Advisory LLC lifted its position in Global Ship Lease by 3.9% during the first quarter. Vident Advisory LLC now owns 44,162 shares of the shipping company's stock valued at $1,009,000 after purchasing an additional 1,640 shares during the period. State of Wyoming increased its stake in shares of Global Ship Lease by 14.5% during the first quarter. State of Wyoming now owns 15,496 shares of the shipping company's stock worth $354,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Samalin Investment Counsel LLC raised its position in shares of Global Ship Lease by 7.2% during the 1st quarter. Samalin Investment Counsel LLC now owns 27,701 shares of the shipping company's stock valued at $633,000 after buying an additional 1,865 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Price Performance

Shares of Global Ship Lease stock traded up $0.03 during trading on Tuesday, hitting $31.70. 189,015 shares of the stock traded hands, compared to its average volume of 306,182. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 2.94 and a beta of 1.12. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $31.78. The firm's fifty day moving average is $29.17 and its 200-day moving average is $25.27.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $191.86 million during the quarter, compared to analysts' expectations of $177.98 million. Research analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.6%. The ex-dividend date was Friday, August 22nd. Global Ship Lease's payout ratio is presently 19.50%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GSL. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $33.00 target price on shares of Global Ship Lease in a research report on Tuesday, August 5th. Finally, Clarkson Capital downgraded Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective on the stock. in a report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Global Ship Lease presently has an average rating of "Moderate Buy" and an average price target of $30.50.

About Global Ship Lease

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.