Walleye Capital LLC Acquires 57,331 Shares of Global Ship Lease, Inc. $GSL

Key Points

• Walleye Capital LLC increased its stake in Global Ship Lease by 337.1% in Q1, owning 74,339 shares now valued at approximately $1.7 million.
• Global Ship Lease reported $2.67 EPS for the quarter, surpassing expectations, with a revenue of $191.86 million.
• The company declared a quarterly dividend of $0.525, reflecting an annualized dividend yield of 7.0%.

Walleye Capital LLC raised its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 337.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 74,339 shares of the shipping company's stock after purchasing an additional 57,331 shares during the period. Walleye Capital LLC owned approximately 0.21% of Global Ship Lease worth $1,699,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GSL. Raymond James Financial Inc. acquired a new position in Global Ship Lease during the 4th quarter valued at about $633,000. Stifel Financial Corp acquired a new position in Global Ship Lease during the 4th quarter valued at about $342,000. Boothbay Fund Management LLC acquired a new position in Global Ship Lease during the 4th quarter valued at about $224,000. Ameriprise Financial Inc. boosted its stake in Global Ship Lease by 2.6% during the 4th quarter. Ameriprise Financial Inc. now owns 92,003 shares of the shipping company's stock valued at $2,008,000 after purchasing an additional 2,373 shares during the last quarter. Finally, CastleKnight Management LP boosted its stake in Global Ship Lease by 61.5% during the 4th quarter. CastleKnight Management LP now owns 95,431 shares of the shipping company's stock valued at $2,083,000 after purchasing an additional 36,331 shares during the last quarter. Institutional investors and hedge funds own 50.08% of the company's stock.

Global Ship Lease Stock Performance

Shares of NYSE:GSL traded up $0.23 during mid-day trading on Thursday, reaching $30.91. The company had a trading volume of 260,263 shares, compared to its average volume of 327,588. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 2.87 and a beta of 1.12. The company's 50-day moving average price is $28.86 and its 200-day moving average price is $25.07. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $30.98.

Global Ship Lease (NYSE:GSL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.52. The company had revenue of $191.86 million for the quarter, compared to analysts' expectations of $177.98 million. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. As a group, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Friday, August 22nd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 22nd. Global Ship Lease's payout ratio is 19.50%.

Wall Street Analyst Weigh In

A number of equities 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 target for the company. in a research note on Thursday, May 22nd. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $33.00 target price on shares of Global Ship Lease in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.50.

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.