LPL Financial LLC Lowers Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

LPL Financial LLC decreased its position in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,355 shares of the shipping company's stock after selling 31,012 shares during the period. LPL Financial LLC owned about 0.21% of Global Ship Lease worth $1,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in shares of Global Ship Lease during the fourth quarter worth about $1,238,000. Public Employees Retirement System of Ohio purchased a new stake in Global Ship Lease during the 3rd quarter worth approximately $1,441,000. Raymond James Financial Inc. acquired a new stake in Global Ship Lease during the 4th quarter worth approximately $633,000. DGS Capital Management LLC boosted its position in Global Ship Lease by 125.1% in the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company's stock valued at $1,008,000 after buying an additional 25,651 shares during the period. Finally, Crescent Grove Advisors LLC grew its stake in shares of Global Ship Lease by 215.6% in the fourth quarter. Crescent Grove Advisors LLC now owns 29,789 shares of the shipping company's stock worth $650,000 after acquiring an additional 20,349 shares in the last quarter. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Stock Down 0.6 %

NYSE:GSL traded down $0.12 during trading hours on Tuesday, hitting $20.04. The company's stock had a trading volume of 274,553 shares, compared to its average volume of 455,550. Global Ship Lease, Inc. has a 52-week low of $17.73 and a 52-week 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 capitalization of $710.43 million, a P/E ratio of 2.22 and a beta of 1.21. The stock has a fifty day moving average of $21.86 and a 200-day moving average of $22.39.

Global Ship Lease (NYSE:GSL - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.25. The business had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 8.98%. Global Ship Lease's payout ratio is currently 18.50%.

Analysts Set New Price Targets

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

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.