Raymond James Financial Inc. Takes $633,000 Position in Global Ship Lease, Inc. (NYSE:GSL)

Raymond James Financial Inc. purchased a new stake in Global Ship Lease, Inc. (NYSE:GSL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 29,006 shares of the shipping company's stock, valued at approximately $633,000. Raymond James Financial Inc. owned approximately 0.08% of Global Ship Lease as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Donald Smith & CO. Inc. boosted its position in shares of Global Ship Lease by 69.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company's stock valued at $68,535,000 after purchasing an additional 1,281,941 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Global Ship Lease by 34.9% during the fourth quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company's stock valued at $13,747,000 after acquiring an additional 162,900 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Global Ship Lease by 2.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 519,913 shares of the shipping company's stock valued at $11,350,000 after purchasing an additional 13,828 shares during the period. Foundry Partners LLC grew its holdings in Global Ship Lease by 5.8% during the fourth quarter. Foundry Partners LLC now owns 503,745 shares of the shipping company's stock valued at $10,997,000 after purchasing an additional 27,789 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Global Ship Lease by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company's stock worth $10,422,000 after acquiring an additional 8,890 shares during the period. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Price Performance

Shares of Global Ship Lease stock traded up $1.28 during trading hours on Monday, hitting $23.35. The company's stock had a trading volume of 357,689 shares, compared to its average volume of 432,379. The business has a 50 day moving average price of $21.66 and a two-hundred day moving average price of $22.08. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $30.32. The company has a market cap of $827.51 million, a PE ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64.

Global Ship Lease (NYSE:GSL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. Analysts expect that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date was Monday, February 24th. This represents a $1.80 annualized dividend and a yield of 7.71%. Global Ship Lease's dividend payout ratio (DPR) is presently 18.50%.

Analysts Set New Price Targets

GSL has been the subject of several research analyst reports. Clarkson Capital raised Global Ship Lease from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 19th. Jefferies Financial Group restated a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research note 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.