Punch & Associates Investment Management Inc. Sells 195,728 Shares of Global Ship Lease, Inc. $GSL

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Global Ship Lease, Inc. by 14.1%, selling 195,728 shares, and now holds 1,196,892 shares, which represent 1.8% of its portfolio.
• The stock reported a strong quarterly earnings result with an EPS of $2.67, surpassing estimates, and a net margin of 53.09% for the last quarter.
• The company recently announced a quarterly dividend of $0.525 per share, reflecting an annual yield of 6.7% and a dividend payout ratio of 19.50%.

Punch & Associates Investment Management Inc. lessened its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,196,892 shares of the shipping company's stock after selling 195,728 shares during the period. Global Ship Lease accounts for approximately 1.8% of Punch & Associates Investment Management Inc.'s portfolio, making the stock its 9th largest holding. Punch & Associates Investment Management Inc. owned approximately 3.38% of Global Ship Lease worth $27,349,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GSL. Charles Schwab Investment Management Inc. raised its position in shares of Global Ship Lease by 351.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 75,644 shares of the shipping company's stock worth $1,728,000 after purchasing an additional 58,872 shares during the last quarter. Crescent Grove Advisors LLC raised its holdings in shares of Global Ship Lease by 137.1% in the first quarter. Crescent Grove Advisors LLC now owns 70,617 shares of the shipping company's stock worth $1,614,000 after acquiring an additional 40,828 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Global Ship Lease in the first quarter valued at $244,000. Janney Montgomery Scott LLC lifted its position in shares of Global Ship Lease by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 91,710 shares of the shipping company's stock valued at $2,096,000 after acquiring an additional 2,983 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Global Ship Lease by 34.8% during the first quarter. LPL Financial LLC now owns 102,897 shares of the shipping company's stock valued at $2,351,000 after acquiring an additional 26,542 shares during the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.

Global Ship Lease Stock Up 0.1%

GSL stock traded up $0.03 during trading on Tuesday, reaching $31.70. The stock had a trading volume of 189,015 shares, compared to its average volume of 306,182. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $29.17 and a 200 day moving average price of $25.27. The company has a market capitalization of $1.12 billion, a P/E ratio of 2.94 and a beta of 1.12. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $31.78.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $191.86 million for the quarter, compared to analyst estimates of $177.98 million. On average, equities analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GSL shares. Clarkson Capital lowered shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price on the stock. in a report on Thursday, May 22nd. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $33.00 price objective on shares of Global Ship Lease in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Global Ship Lease has a consensus rating of "Moderate Buy" and an average price target of $30.50.

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.