1,089,204 Shares in Global Ship Lease, Inc. (NYSE:GSL) Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,089,204 shares of the shipping company's stock, valued at approximately $21,588,000. Sumitomo Mitsui DS Asset Management Company Ltd owned about 3.03% of Global Ship Lease at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Global Ship Lease by 7,347.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,017,197 shares of the shipping company's stock valued at $33,324,000 after acquiring an additional 1,990,112 shares during the last quarter. Millennium Management LLC raised its stake in shares of Global Ship Lease by 123.0% in the 2nd quarter. Millennium Management LLC now owns 1,321,823 shares of the shipping company's stock valued at $21,837,000 after purchasing an additional 728,945 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Global Ship Lease by 2,215.7% in the 1st quarter. Balyasny Asset Management L.P. now owns 368,806 shares of the shipping company's stock valued at $6,911,000 after purchasing an additional 352,880 shares during the period. State Street Corp raised its stake in shares of Global Ship Lease by 279.6% in the 1st quarter. State Street Corp now owns 288,735 shares of the shipping company's stock valued at $5,411,000 after purchasing an additional 212,665 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Global Ship Lease by 17.5% in the 2nd quarter. Marshall Wace LLP now owns 1,006,087 shares of the shipping company's stock valued at $19,518,000 after purchasing an additional 150,016 shares during the period. Institutional investors own 50.08% of the company's stock.

Global Ship Lease Stock Up 0.7 %

Shares of NYSE GSL traded up $0.14 during mid-day trading on Friday, hitting $21.34. The company had a trading volume of 625,903 shares, compared to its average volume of 699,903. The company has a market capitalization of $750.95 million, a PE ratio of 2.56 and a beta of 1.50. The firm has a 50-day simple moving average of $20.38 and a two-hundred day simple moving average of $19.52. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 0.52. Global Ship Lease, Inc. has a one year low of $16.80 and a one year high of $21.94.

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

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease's payout ratio is currently 18.01%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Jefferies Financial Group reissued a "buy" rating and issued a $25.00 price target on shares of Global Ship Lease in a research note on Monday, March 4th. StockNews.com raised Global Ship Lease from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 15th.

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.