Global Ship Lease (NYSE:GSL) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.91 and traded as high as $27.45. Global Ship Lease shares last traded at $27.03, with a volume of 505,067 shares traded.

Analyst Ratings Changes

Several research firms have recently issued reports on GSL. Jefferies Financial Group lifted their price target on Global Ship Lease from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Wall Street Zen upgraded Global Ship Lease from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Clarkson Capital cut Global Ship Lease from a "strong-buy" rating to a "hold" rating and set a $28.00 target price on the stock. in a report on Thursday, May 22nd.

Global Ship Lease Trading Up 2.4%

The firm has a market capitalization of $976.79 million, a PE ratio of 2.61 and a beta of 1.19. The company has a quick ratio of 1.71, a current ratio of 1.77 and a debt-to-equity ratio of 0.40. The business's fifty day moving average price is $25.16 and its 200 day moving average price is $22.97.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The shipping company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.38. The business had revenue of $190.98 million during the quarter, compared to the consensus estimate of $171.73 million. Global Ship Lease had a net margin of 53.31% and a return on equity of 25.56%. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Friday, May 23rd were paid a dividend of $0.525 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.10 dividend on an annualized basis and a yield of 7.62%. This is an increase from Global Ship Lease's previous quarterly dividend of $0.45. Global Ship Lease's dividend payout ratio (DPR) is currently 19.83%.

Hedge Funds Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently modified their holdings of GSL. SVB Wealth LLC acquired a new position in shares of Global Ship Lease in the 1st quarter valued at about $33,000. CIBC Private Wealth Group LLC lifted its stake 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 valued at $36,000 after purchasing an additional 1,577 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Global Ship Lease in the 4th quarter valued at about $37,000. Steward Partners Investment Advisory LLC purchased a new stake in Global Ship Lease during the 4th quarter worth $46,000. Finally, WealthCollab LLC boosted its position in Global Ship Lease by 64.1% during 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. 50.08% of the stock is owned by institutional investors and hedge funds.

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.