Trexquant Investment LP Sells 30,135 Shares of Global Ship Lease, Inc. $GSL

Key Points

• Trexquant Investment LP reduced its stake in Global Ship Lease, Inc. by 16.4% in Q1, holding 153,549 shares worth $3,509,000 after selling 30,135 shares.
• Global Ship Lease has recently announced a quarterly dividend of $0.525 per share, resulting in an annualized dividend yield of 7.0%.
• Analysts have mixed views on Global Ship Lease, with Jefferies maintaining a "buy" rating and a price target of $33.00, while Clarkson Capital downgraded to a "hold" with a $28.00 target.

Trexquant Investment LP cut its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,549 shares of the shipping company's stock after selling 30,135 shares during the quarter. Trexquant Investment LP owned about 0.43% of Global Ship Lease worth $3,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its position in Global Ship Lease by 41.9% in the first quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock worth $56,000 after acquiring an additional 717 shares in the last quarter. Isthmus Partners LLC raised its position in Global Ship Lease by 0.7% in the first quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company's stock worth $2,596,000 after acquiring an additional 793 shares in the last quarter. SVB Wealth LLC bought a new stake in Global Ship Lease in the first quarter worth about $33,000. Samalin Investment Counsel LLC raised its position in Global Ship Lease by 7.2% in the first quarter. Samalin Investment Counsel LLC now owns 27,701 shares of the shipping company's stock worth $633,000 after acquiring an additional 1,865 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Global Ship Lease by 9.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,012 shares of the shipping company's stock worth $503,000 after buying an additional 1,988 shares during the period. 50.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GSL shares. Clarkson Capital downgraded Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective 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 restated a "buy" rating and set a $33.00 price objective on shares of Global Ship Lease in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Global Ship Lease currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Global Ship Lease Stock Up 1.6%

NYSE:GSL traded up $0.49 on Friday, hitting $31.38. 266,223 shares of the company's stock traded hands, compared to its average volume of 315,780. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $31.41. The firm has a 50-day moving average price of $28.96 and a 200-day moving average price of $25.15. The company has a market cap of $1.11 billion, a PE ratio of 2.91 and a beta of 1.12.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $191.86 million for the quarter, compared to analysts' expectations of $177.98 million. Equities analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, August 22nd. Global Ship Lease's payout ratio is 19.50%.

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.