Walleye Capital LLC Purchases 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 increased its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 337.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,339 shares of the shipping company's stock after purchasing an additional 57,331 shares during the quarter. Walleye Capital LLC owned 0.21% of Global Ship Lease worth $1,699,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new position in Global Ship Lease during the first quarter worth $33,000. Kestra Advisory Services LLC lifted its stake in Global Ship Lease by 8.5% during the first quarter. Kestra Advisory Services LLC now owns 86,387 shares of the shipping company's stock worth $1,974,000 after purchasing an additional 6,793 shares during the last quarter. EntryPoint Capital LLC bought a new position in Global Ship Lease during the first quarter worth $204,000. Hsbc Holdings PLC bought a new position in Global Ship Lease during the first quarter worth $279,000. Finally, Ethos Financial Group LLC bought a new position in Global Ship Lease during the first quarter worth $338,000. 50.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GSL has been the topic of several research analyst reports. Clarkson Capital cut 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 note on Thursday, May 22nd. Jefferies Financial Group restated a "buy" rating and set a $33.00 price objective on shares of Global Ship Lease in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.50.

Global Ship Lease Stock Performance

Shares of NYSE GSL traded up $0.14 during midday trading on Tuesday, reaching $30.19. 387,408 shares of the company traded hands, compared to its average volume of 379,972. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $30.98. The stock has a 50-day moving average price of $28.59 and a 200 day moving average price of $24.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 2.80 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 (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.52. The firm had revenue of $191.86 million for the quarter, compared to analyst estimates of $177.98 million. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%. Sell-side analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.525 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 7.0%. Global Ship Lease's dividend payout ratio (DPR) is presently 19.50%.

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.