Redhawk Wealth Advisors Inc. Buys 11,892 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Redhawk Wealth Advisors Inc. increased its position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 34.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,158 shares of the shipping company's stock after acquiring an additional 11,892 shares during the quarter. Redhawk Wealth Advisors Inc. owned about 0.13% of Global Ship Lease worth $1,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position in shares of Global Ship Lease by 6,856.5% during the fourth 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 period. SBI Securities Co. Ltd. acquired a new position in shares of Global Ship Lease in the 4th quarter valued at $37,000. Steward Partners Investment Advisory LLC bought a new position in shares of Global Ship Lease during the 4th quarter worth about $46,000. WealthCollab LLC boosted 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 valued at $57,000 after acquiring an additional 1,021 shares in the last quarter. Finally, Pinnacle Holdings LLC increased its stake in Global Ship Lease by 88.8% in the fourth quarter. Pinnacle Holdings LLC now owns 3,359 shares of the shipping company's stock valued at $73,000 after acquiring an additional 1,580 shares during the period. Institutional investors and hedge funds own 50.08% of the company's stock.

Analysts Set New Price Targets

GSL has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target for the company. in a report on Thursday, May 22nd. Finally, Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

Global Ship Lease Trading Up 1.3%

Shares of Global Ship Lease stock traded up $0.34 on Friday, hitting $26.47. 347,653 shares of the company's stock traded hands, compared to its average volume of 395,530. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $30.19. 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 $938.21 million, a PE ratio of 2.93 and a beta of 1.19. The firm's 50-day moving average price is $22.95 and its two-hundred day moving average price is $22.38.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly 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. The company had revenue of $190.98 million during the quarter, compared to analysts' expectations of $171.73 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. During the same period in the prior year, the business posted $2.53 EPS. On average, research analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Friday, May 23rd were issued a $0.525 dividend. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date was Friday, May 23rd. This represents a $2.10 annualized dividend and a dividend yield of 7.93%. 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.