SG Americas Securities LLC Boosts Holdings in Global Ship Lease, Inc. (NYSE:GSL)

SG Americas Securities LLC boosted its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 182.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 180,858 shares of the shipping company's stock after acquiring an additional 116,917 shares during the period. SG Americas Securities LLC owned 0.51% of Global Ship Lease worth $4,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GSL. Donald Smith & CO. Inc. raised its position in shares of Global Ship Lease by 69.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock valued at $68,535,000 after buying an additional 1,281,941 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Global Ship Lease by 34.9% during the fourth quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock valued at $13,747,000 after buying an additional 162,900 shares during the last quarter. Trexquant Investment LP raised its position in shares of Global Ship Lease by 46.7% during the fourth quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company's stock valued at $4,010,000 after buying an additional 58,470 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Global Ship Lease during the fourth quarter valued at approximately $1,238,000. Finally, CastleKnight Management LP raised its position in shares of Global Ship Lease by 61.5% during the fourth quarter. CastleKnight Management LP now owns 95,431 shares of the shipping company's stock valued at $2,083,000 after buying an additional 36,331 shares during the last quarter. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Price Performance

GSL traded up $0.16 during trading hours on Tuesday, hitting $26.29. The company's stock had a trading volume of 340,865 shares, compared to its average volume of 394,454. The business's 50-day moving average price is $23.24 and its 200-day moving average price is $22.45. Global Ship Lease, Inc. has a 12 month low of $17.73 and a 12 month high of $30.19. The stock has a market cap of $931.98 million, a price-to-earnings ratio of 2.48 and a beta of 1.19. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.38. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. The company had revenue of $190.98 million for the quarter, compared to analysts' expectations of $171.73 million. During the same quarter in the previous year, the business posted $2.53 earnings per share. Sell-side analysts expect that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.99%. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date was Friday, May 23rd. Global Ship Lease's payout ratio is presently 19.83%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Clarkson Capital cut shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective on the stock. in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Global Ship Lease from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, May 19th.

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.