Donald Smith & CO. Inc. Acquires 1,098,558 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Donald Smith & CO. Inc. boosted its holdings in Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 235.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,564,165 shares of the shipping company's stock after purchasing an additional 1,098,558 shares during the quarter. Donald Smith & CO. Inc. owned 4.35% of Global Ship Lease worth $31,002,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GSL. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Global Ship Lease during the fourth quarter worth $21,588,000. Allworth Financial LP acquired a new position in Global Ship Lease during the 4th quarter valued at about $369,000. Corton Capital Inc. bought a new stake in Global Ship Lease in the 3rd quarter worth about $329,000. Janney Montgomery Scott LLC raised its stake in shares of Global Ship Lease by 2.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company's stock worth $423,000 after purchasing an additional 603 shares during the period. Finally, Whittier Trust Co. bought a new position in shares of Global Ship Lease during the 4th quarter valued at approximately $40,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on GSL shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $25.00 price target on shares of Global Ship Lease in a report on Monday, March 4th. StockNews.com lowered shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, April 23rd.

Global Ship Lease Stock Performance

GSL stock traded up $0.19 during trading on Monday, reaching $23.00. The stock had a trading volume of 714,201 shares, compared to its average volume of 673,012. The stock's 50 day moving average is $20.62 and its two-hundred day moving average is $19.72. The firm has a market cap of $809.19 million, a PE ratio of 2.76 and a beta of 1.50. Global Ship Lease, Inc. has a 52 week low of $16.80 and a 52 week high of $23.06. 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 (NYSE:GSL - Get Free Report) last released its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.15. The business had revenue of $178.89 million during the quarter, compared to analysts' expectations of $171.54 million. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. During the same quarter last year, the business posted $2.14 EPS. As a group, equities analysts anticipate that Global Ship Lease, Inc. will post 9.4 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were given a dividend of $0.375 per share. The ex-dividend date was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a yield of 6.52%. Global Ship Lease's payout ratio is 18.01%.

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.