Point72 Asset Management L.P. Cuts Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Point72 Asset Management L.P. lessened its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 41.6% in the 4th quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its position in shares of 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 worth $36,000 after purchasing an additional 1,577 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Global Ship Lease during the 4th quarter worth $37,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Global Ship Lease during the 4th quarter worth $46,000. R Squared Ltd purchased a new stake in shares of Global Ship Lease during the 4th quarter worth $50,000. Finally, WealthCollab LLC lifted its position in shares of Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after purchasing an additional 1,021 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GSL shares. Jefferies Financial Group upped their target price on Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price for the company. in a research report on Thursday, May 22nd.

Global Ship Lease Stock Performance

Shares of NYSE:GSL traded up $0.08 on Wednesday, reaching $24.98. The company's stock had a trading volume of 363,001 shares, compared to its average volume of 401,000. The stock's 50-day moving average is $22.05 and its two-hundred day moving average is $22.17. Global Ship Lease, Inc. has a 52-week low of $17.73 and a 52-week high of $30.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The stock has a market capitalization of $885.47 million, a P/E ratio of 2.77 and a beta of 1.10.

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

Global Ship Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd will be issued a dividend of $0.525 per share. This is a boost from Global Ship Lease's previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a yield of 8.41%. The ex-dividend date of this dividend is Friday, May 23rd. Global Ship Lease's dividend payout ratio is currently 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.