Global Ship Lease, Inc. (NYSE:GSL) Short Interest Update

Global Ship Lease, Inc. (NYSE:GSL - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,280,000 shares, an increase of 12.3% from the March 31st total of 1,140,000 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily volume of 706,700 shares, the short-interest ratio is presently 1.8 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on GSL. StockNews.com upgraded Global Ship Lease from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Jefferies Financial Group reissued a "buy" rating and set a $25.00 price objective on shares of Global Ship Lease in a report on Monday, March 4th.

Global Ship Lease Trading Up 0.4 %

NYSE:GSL traded up $0.10 during trading hours on Wednesday, hitting $22.86. The company had a trading volume of 685,349 shares, compared to its average volume of 669,734. The stock has a 50-day moving average price of $20.67 and a 200 day moving average price of $19.75. Global Ship Lease has a 52 week low of $16.80 and a 52 week high of $23.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market capitalization of $804.44 million, a PE ratio of 2.73 and a beta of 1.50.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.34 by $0.15. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. The business had revenue of $178.89 million during the quarter, compared to analyst estimates of $171.54 million. During the same period last year, the business posted $2.14 earnings per share. On average, equities research analysts predict that Global Ship Lease will post 9.4 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Wednesday, February 21st. Global Ship Lease's dividend payout ratio is currently 18.01%.

Institutional Trading of Global Ship Lease

Hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. bought a new stake in Global Ship Lease during the fourth quarter worth about $40,000. Signaturefd LLC lifted its holdings in shares of Global Ship Lease by 87.6% during the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company's stock valued at $40,000 after purchasing an additional 945 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Global Ship Lease by 150.2% during the fourth quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company's stock valued at $142,000 after purchasing an additional 4,314 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of Global Ship Lease in the 4th quarter worth approximately $172,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Global Ship Lease in the 4th quarter worth approximately $201,000. 50.08% of the stock is owned by hedge funds and other institutional investors.

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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