Y Intercept Hong Kong Ltd Invests $204,000 in Global Ship Lease, Inc. (NYSE:GSL)

Key Points

• Y Intercept Hong Kong Ltd has acquired 8,945 shares of Global Ship Lease, Inc. valued at approximately $204,000 during the first quarter, highlighting increased institutional interest in the company.
• Global Ship Lease recently increased its quarterly dividend from $0.45 to $0.525, resulting in an annualized dividend yield of 7.4%.
• Despite a strong quarterly earnings report exceeding analyst expectations, two analysts have downgraded Global Ship Lease's stock rating from "buy" to "hold," indicating mixed sentiments among market experts.

Y Intercept Hong Kong Ltd purchased a new stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,945 shares of the shipping company's stock, valued at approximately $204,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in shares of Global Ship Lease by 6,856.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock valued at $36,000 after buying an additional 1,577 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Global Ship Lease by 41.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company's stock worth $56,000 after purchasing an additional 717 shares during the period. WealthCollab LLC lifted its position in shares of Global Ship Lease by 64.1% in the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company's stock worth $57,000 after purchasing an additional 1,021 shares during the period. NBC Securities Inc. lifted its position in shares of Global Ship Lease by 111,333.3% in the 1st quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company's stock worth $76,000 after purchasing an additional 3,340 shares during the period. Finally, Pinnacle Holdings LLC lifted its position in shares of Global Ship Lease by 88.8% in the 4th quarter. Pinnacle Holdings LLC now owns 3,359 shares of the shipping company's stock worth $73,000 after purchasing an additional 1,580 shares during the period. Institutional investors and hedge funds own 50.08% of the company's stock.

Global Ship Lease Trading Down 1.1%

Shares of Global Ship Lease stock traded down $0.31 on Friday, hitting $28.21. 269,801 shares of the company's stock traded hands, compared to its average volume of 304,280. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $29.23. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.77 and a quick ratio of 1.71. The company has a fifty day moving average of $26.74 and a two-hundred day moving average of $23.69. The company has a market capitalization of $999.96 million, a price-to-earnings ratio of 2.66 and a beta of 1.19.

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 for the quarter, topping analysts' consensus estimates of $2.27 by $0.38. Global Ship Lease had a return on equity of 25.56% and a net margin of 53.31%. The business had revenue of $190.98 million for the quarter, compared to the consensus estimate of $171.73 million. During the same period in the prior year, the business earned $2.53 EPS. As a group, sell-side analysts expect that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd were paid a dividend of $0.525 per share. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.10 dividend on an annualized basis and a yield of 7.4%. Global Ship Lease's dividend payout ratio (DPR) is currently 19.83%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GSL. Clarkson Capital downgraded shares of Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 price target on the stock. in a research report on Thursday, May 22nd. Wall Street Zen lowered Global Ship Lease from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group upped their target price on Global Ship Lease from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, May 19th.

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.