Two Sigma Investments LP Sells 139,402 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Two Sigma Investments LP lessened its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,646 shares of the shipping company's stock after selling 139,402 shares during the quarter. Two Sigma Investments LP owned about 1.36% of Global Ship Lease worth $10,929,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. DGS Capital Management LLC grew its holdings in Global Ship Lease by 125.1% during the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company's stock valued at $1,008,000 after buying an additional 25,651 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Global Ship Lease during the 4th quarter valued at approximately $37,000. Donald Smith & CO. Inc. grew its holdings in Global Ship Lease by 69.0% during the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Global Ship Lease during the 4th quarter valued at approximately $633,000. Finally, Stifel Financial Corp purchased a new position in Global Ship Lease during the 4th quarter valued at approximately $342,000. Hedge funds and other institutional investors own 50.08% of the company's stock.

Global Ship Lease Trading Up 0.6%

Shares of NYSE:GSL traded up $0.15 during trading on Thursday, hitting $25.07. The company had a trading volume of 134,313 shares, compared to its average volume of 413,001. The stock has a market cap of $888.80 million, a price-to-earnings ratio of 2.77 and a beta of 1.10. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $30.32. The company has a fifty day simple moving average of $22.09 and a two-hundred day simple moving average of $22.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings data on Monday, May 19th. The shipping company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.38. The business had revenue of $190.98 million during the quarter, compared to analyst estimates 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 last year, the company earned $2.53 EPS. As a group, equities analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd will be paid a dividend of $0.525 per share. This is a positive change from Global Ship Lease's previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date is Friday, May 23rd. Global Ship Lease's dividend payout ratio (DPR) is currently 19.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GSL. Jefferies Financial Group raised their price objective on Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Wall Street Zen raised Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Clarkson Capital lowered Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a research note on Thursday, May 22nd.

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.