Voloridge Investment Management LLC Sells 148,900 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Voloridge Investment Management LLC lowered its stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 34.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 285,624 shares of the shipping company's stock after selling 148,900 shares during the period. Voloridge Investment Management LLC owned 0.77% of Global Ship Lease worth $6,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GSL. CIBC Private Wealth Group LLC grew its position in Global Ship Lease by 6,856.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock worth $36,000 after purchasing an additional 1,577 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Global Ship Lease in the 4th quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC bought a new position in shares of Global Ship Lease during the fourth quarter valued at $46,000. R Squared Ltd acquired a new stake in shares of Global Ship Lease during the fourth quarter worth $50,000. Finally, WealthCollab LLC raised its position in shares of Global Ship Lease by 64.1% in the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock valued at $57,000 after purchasing an additional 1,021 shares during the period. 50.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GSL has been the subject of several research reports. Clarkson Capital lowered shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price objective for the company. in a report on Thursday, May 22nd. Wall Street Zen raised shares of Global Ship Lease from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group increased 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 Price Performance

Shares of GSL traded down $0.25 during midday trading on Friday, reaching $24.80. The stock had a trading volume of 88,808 shares, compared to its average volume of 410,696. The firm's 50 day moving average price is $22.12 and its 200-day moving average price is $22.20. 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, Inc. has a 52 week low of $17.73 and a 52 week high of $30.32. The company has a market capitalization of $879.09 million, a P/E ratio of 2.75 and a beta of 1.10.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings results 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. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $190.98 million for the quarter, compared to analysts' expectations of $171.73 million. During the same quarter last year, the business earned $2.53 earnings per share. On average, analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 8.47%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's dividend payout ratio is presently 19.83%.

About Global Ship Lease

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.