Renaissance Technologies LLC Raises Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Renaissance Technologies LLC raised its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL - Free Report) by 34.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 629,750 shares of the shipping company's stock after purchasing an additional 162,900 shares during the quarter. Renaissance Technologies LLC owned 1.71% of Global Ship Lease worth $13,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its position in Global Ship Lease by 6,856.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company's stock worth $36,000 after acquiring an additional 1,577 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Global Ship Lease in the 4th quarter worth approximately $37,000. Steward Partners Investment Advisory LLC bought a new position in shares of Global Ship Lease during the 4th quarter valued at approximately $46,000. R Squared Ltd purchased a new stake in Global Ship Lease during the 4th quarter valued at $50,000. Finally, New Age Alpha Advisors LLC bought a new stake in Global Ship Lease in the fourth quarter worth $133,000. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Stock Up 1.8 %

GSL stock traded up $0.37 during trading on Friday, reaching $20.54. 183,947 shares of the company traded hands, compared to its average volume of 459,094. The business has a 50 day simple moving average of $21.96 and a 200 day simple moving average of $22.45. Global Ship Lease, Inc. has a 12 month low of $17.73 and a 12 month high of $30.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The company has a market capitalization of $728.15 million, a price-to-earnings ratio of 2.27 and a beta of 1.21.

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 analysts' expectations of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. On average, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.76%. The ex-dividend date was Monday, February 24th. Global Ship Lease's dividend payout ratio is currently 18.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GSL shares. Clarkson Capital upgraded Global Ship Lease from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 19th. StockNews.com downgraded shares of Global Ship Lease from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th.

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.