Marshall Wace LLP Sells 275,031 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Marshall Wace LLP lessened its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 31.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 611,561 shares of the shipping company's stock after selling 275,031 shares during the quarter. Marshall Wace LLP owned about 1.66% of Global Ship Lease worth $13,350,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GSL. Isthmus Partners LLC boosted its holdings in Global Ship Lease by 1.3% in the 4th quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company's stock worth $2,463,000 after buying an additional 1,460 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Global Ship Lease by 6,856.5% during 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 during the period. Pinnacle Holdings LLC raised its stake in shares of Global Ship Lease by 88.8% during the 4th quarter. Pinnacle Holdings LLC now owns 3,359 shares of the shipping company's stock valued at $73,000 after purchasing an additional 1,580 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Global Ship Lease during the 4th quarter worth about $37,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in Global Ship Lease during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 50.08% of the company's stock.

Global Ship Lease Price Performance

Shares of GSL stock traded up $0.14 during trading on Friday, hitting $21.27. The company had a trading volume of 159,997 shares, compared to its average volume of 449,418. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $30.32. The stock has a market capitalization of $754.06 million, a price-to-earnings ratio of 2.36 and a beta of 1.21. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average is $21.77 and its two-hundred day moving average is $22.32.

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, 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%. As a group, analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.46%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease's payout ratio is presently 18.50%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GSL. Clarkson Capital raised shares of Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. Jefferies Financial Group reiterated a "buy" rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Wednesday, March 5th. Finally, StockNews.com lowered shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th.

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.