SG Americas Securities LLC Buys 28,425 Shares of Global Ship Lease, Inc. $GSL

Key Points

• SG Americas Securities LLC boosted its stake by 100.1%, buying an additional 28,425 shares to hold 56,817 shares (about $1.99M, ~0.16% of Global Ship Lease) at the end of the quarter.
• Other institutions also increased positions—Donald Smith & Co. holds 3.24M shares (~$85.2M), Qube Research added 107,651 shares—and institutional/hedge fund ownership totals 50.08% of the stock.
• GSL recently slightly beat quarterly EPS estimates ($2.32 vs. $2.31), pays a quarterly dividend that annualizes to $2.50 (a 6.5% yield

SG Americas Securities LLC boosted its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 100.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,817 shares of the shipping company's stock after purchasing an additional 28,425 shares during the period. SG Americas Securities LLC owned about 0.16% of Global Ship Lease worth $1,991,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GSL. Donald Smith & CO. Inc. grew its holdings in shares of Global Ship Lease by 0.6% in the second quarter. Donald Smith & CO. Inc. now owns 3,238,868 shares of the shipping company's stock worth $85,215,000 after purchasing an additional 18,783 shares during the last quarter. Two Sigma Investments LP boosted its position in Global Ship Lease by 2.7% during the 3rd quarter. Two Sigma Investments LP now owns 626,787 shares of the shipping company's stock valued at $19,242,000 after buying an additional 16,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Global Ship Lease by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 613,287 shares of the shipping company's stock worth $16,136,000 after acquiring an additional 31,047 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Global Ship Lease by 23.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 567,442 shares of the shipping company's stock worth $17,420,000 after acquiring an additional 107,651 shares during the last quarter. Finally, CSM Advisors LLC increased its position in shares of Global Ship Lease by 3.0% in the third quarter. CSM Advisors LLC now owns 432,919 shares of the shipping company's stock valued at $13,289,000 after acquiring an additional 12,616 shares during the period. Hedge funds and other institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Down 0.1%

GSL stock opened at $38.38 on Monday. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $41.40. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $38.24 and a 200 day moving average of $34.89. The firm has a market cap of $1.38 billion, a PE ratio of 3.37 and a beta of 0.96.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its earnings results on Thursday, March 5th. The shipping company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.01. The business had revenue of $190.95 million for the quarter, compared to analysts' expectations of $188.39 million. Global Ship Lease had a net margin of 54.33% and a return on equity of 22.35%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 24th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend was Tuesday, February 24th. Global Ship Lease's dividend payout ratio (DPR) is presently 21.95%.

Analysts Set New Price Targets

GSL has been the subject of a number of analyst reports. Zacks Research lowered shares of Global Ship Lease from a "hold" rating to a "strong sell" rating in a report on Thursday, March 19th. Wall Street Zen downgraded Global Ship Lease from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. B. Riley Financial increased their price objective on Global Ship Lease from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Global Ship Lease in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $38.33.

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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