Sei Investments Co. Raises Stake in Global Ship Lease, Inc. $GSL

Key Points

• Sei Investments increased its Global Ship Lease stake by 51.8% in the first quarter, holding 200,806 shares worth approximately $7.5 million. Institutional investors collectively own 50.08% of the company.
• Global Ship Lease reported quarterly EPS of $2.56, exceeding estimates of $2.40, while revenue reached $198.08 million and rose 3.7% year over year.
• The company declared a quarterly dividend of $0.625, equal to $2.50 annually and a 5.6% yield. Analysts maintain a consensus “Buy” rating with an average price target of $46.50.

Sei Investments Co. boosted its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,806 shares of the shipping company's stock after purchasing an additional 68,535 shares during the quarter. Sei Investments Co. owned approximately 0.56% of Global Ship Lease worth $7,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Royal Palms Capital LLC purchased a new position in Global Ship Lease during the fourth quarter valued at approximately $3,665,000. First Trust Advisors LP purchased a new stake in Global Ship Lease in the 1st quarter worth approximately $12,681,000. SG Americas Securities LLC lifted its stake in Global Ship Lease by 100.1% in the 4th quarter. SG Americas Securities LLC now owns 56,817 shares of the shipping company's stock worth $1,991,000 after purchasing an additional 28,425 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Global Ship Lease in the 4th quarter worth approximately $949,000. Finally, GSA Capital Partners LLP boosted its holdings in Global Ship Lease by 39.7% in the 4th quarter. GSA Capital Partners LLP now owns 50,016 shares of the shipping company's stock valued at $1,753,000 after purchasing an additional 14,214 shares during the period. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Down 0.0%

Shares of NYSE GSL opened at $44.34 on Monday. The stock has a market capitalization of $1.59 billion, a P/E ratio of 4.21 and a beta of 0.90. Global Ship Lease, Inc. has a one year low of $27.28 and a one year high of $44.69. The firm's 50 day simple moving average is $39.48 and its two-hundred day simple moving average is $38.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 2.21.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings data on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.16. The company had revenue of $198.08 million during the quarter, compared to analysts' expectations of $182.87 million. Global Ship Lease had a net margin of 50.01% and a return on equity of 21.11%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts expect that Global Ship Lease, Inc. will post 9.5 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Friday, May 22nd were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, May 22nd. Global Ship Lease's dividend payout ratio (DPR) is currently 23.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Zacks Research upgraded shares of Global Ship Lease from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Jefferies Financial Group initiated coverage on Global Ship Lease in a research report on Friday, April 24th. They issued a "buy" rating and a $45.00 price objective on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Global Ship Lease in a research note on Friday, July 17th. Fearnley Fonds upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $46.50.

Global Ship Lease Company Profile

Global Ship Lease NYSE: GSL is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.

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