JPMorgan Chase & Co. Has $6.58 Million Position in Global Ship Lease, Inc. (NYSE:GSL)

JPMorgan Chase & Co. reduced its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 301,176 shares of the shipping company's stock after selling 89,877 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.82% of Global Ship Lease worth $6,575,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GSL. SBI Securities Co. Ltd. bought a new stake in Global Ship Lease in the 4th quarter valued at about $37,000. Steward Partners Investment Advisory LLC bought a new stake in Global Ship Lease in the 4th quarter valued at about $46,000. R Squared Ltd bought a new stake in Global Ship Lease in the 4th quarter valued at about $50,000. Corient Private Wealth LLC bought a new stake in Global Ship Lease in the 4th quarter valued at about $305,000. Finally, Magnetar Financial LLC lifted its position in Global Ship Lease by 34.5% in the 4th quarter. Magnetar Financial LLC now owns 14,260 shares of the shipping company's stock valued at $311,000 after purchasing an additional 3,658 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Stock Up 2.9 %

Shares of GSL traded up $0.58 during mid-day trading on Wednesday, reaching $20.60. The company's stock had a trading volume of 33,319 shares, compared to its average volume of 453,894. The business has a fifty day moving average of $21.86 and a 200 day moving average of $22.39. The company has a market cap of $730.21 million, a price-to-earnings ratio of 2.28 and a beta of 1.21. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $30.32. 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 (NYSE:GSL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. As a group, analysts forecast 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 announced 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 annualized dividend and a yield of 8.74%. The ex-dividend date was Monday, February 24th. Global Ship Lease's payout ratio is 18.50%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GSL. StockNews.com downgraded shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th. Jefferies Financial Group restated a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a research report on Wednesday, March 5th. Finally, Clarkson Capital upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th.

Global Ship Lease 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.