Invesco Ltd. Sells 14,738 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Invesco Ltd. lessened its stake in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 15.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 79,642 shares of the shipping company's stock after selling 14,738 shares during the period. Invesco Ltd. owned 0.22% of Global Ship Lease worth $1,739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. DGS Capital Management LLC raised its holdings in shares of Global Ship Lease by 125.1% during the fourth quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company's stock valued at $1,008,000 after purchasing an additional 25,651 shares during the period. SBI Securities Co. Ltd. bought a new position in Global Ship Lease in the fourth quarter worth approximately $37,000. Donald Smith & CO. Inc. grew its stake in Global Ship Lease by 69.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock valued at $68,535,000 after acquiring an additional 1,281,941 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Global Ship Lease by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company's stock valued at $10,422,000 after acquiring an additional 8,890 shares in the last quarter. Finally, Crescent Grove Advisors LLC raised its position in shares of Global Ship Lease by 215.6% during the fourth quarter. Crescent Grove Advisors LLC now owns 29,789 shares of the shipping company's stock worth $650,000 after purchasing an additional 20,349 shares during the period. 50.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Global Ship Lease Price Performance

Shares of NYSE:GSL opened at $21.42 on Wednesday. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $30.32. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The stock has a market cap of $759.13 million, a PE ratio of 2.37 and a beta of 1.21. The stock's fifty day simple moving average is $21.70 and its two-hundred day simple moving average is $22.26.

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

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 8.40%. Global Ship Lease's dividend payout ratio (DPR) is currently 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.

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