State of Tennessee Department of Treasury Buys 32,112 Shares of Global Ship Lease, Inc. (NYSE:GSL)

State of Tennessee Department of Treasury raised its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 89.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,860 shares of the shipping company's stock after buying an additional 32,112 shares during the quarter. State of Tennessee Department of Treasury owned about 0.18% of Global Ship Lease worth $1,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GSL. CIBC Private Wealth Group LLC grew its holdings in shares of 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 acquiring an additional 1,577 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Global Ship Lease in the fourth quarter valued at about $37,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Global Ship Lease during the fourth quarter worth approximately $46,000. R Squared Ltd acquired a new stake in Global Ship Lease during the fourth quarter worth about $50,000. Finally, Pinnacle Holdings LLC increased its holdings in Global Ship Lease by 88.8% in the 4th quarter. Pinnacle Holdings LLC now owns 3,359 shares of the shipping company's stock valued at $73,000 after buying an additional 1,580 shares during the period. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GSL has been the subject of a number of research reports. Jefferies Financial Group restated a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Wednesday, March 5th. StockNews.com cut shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th. Finally, Clarkson Capital raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th.

Global Ship Lease Price Performance

Shares of NYSE:GSL traded up $0.40 during trading on Friday, hitting $21.95. 246,509 shares of the company were exchanged, compared to its average volume of 438,455. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $30.32. The company has a market capitalization of $778.06 million, a P/E ratio of 2.43 and a beta of 1.21. The business's 50 day moving average is $21.66 and its 200-day moving average is $22.21.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.25. The business had revenue of $182.43 million during the quarter, compared to the consensus estimate of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. Equities analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease's payout ratio is 18.50%.

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.