Point72 Asset Management L.P. Lowers Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

Point72 Asset Management L.P. trimmed its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 41.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,600 shares of the shipping company's stock after selling 11,100 shares during the period. Point72 Asset Management L.P.'s holdings in Global Ship Lease were worth $341,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in Global Ship Lease by 6,856.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after purchasing an additional 1,577 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Global Ship Lease during the 4th quarter valued at about $37,000. Steward Partners Investment Advisory LLC bought a new position in Global Ship Lease during the 4th quarter valued at about $46,000. R Squared Ltd bought a new position in Global Ship Lease during the 4th quarter valued at about $50,000. Finally, WealthCollab LLC grew its holdings in Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock valued at $57,000 after purchasing an additional 1,021 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GSL. Clarkson Capital downgraded shares of 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. Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, May 19th.

Global Ship Lease Trading Up 0.5%

Global Ship Lease stock traded up $0.13 during trading hours on Thursday, hitting $25.05. The company had a trading volume of 134,313 shares, compared to its average volume of 413,001. The firm has a market cap of $888.05 million, a P/E ratio of 2.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $30.32. The company has a 50-day moving average price of $22.09 and a two-hundred day moving average price of $22.19.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The shipping company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.38. The company had revenue of $190.98 million during the quarter, compared to analysts' expectations of $171.73 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period in the previous year, the company earned $2.53 EPS. On average, sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 8.38%. This is a boost from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date is Friday, May 23rd. Global Ship Lease's payout ratio is 19.83%.

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.