Crescent Grove Advisors LLC Buys 20,349 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Crescent Grove Advisors LLC boosted its position in Global Ship Lease, Inc. (NYSE:GSL) by 215.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 29,789 shares of the shipping company’s stock after acquiring an additional 20,349 shares during the period. Crescent Grove Advisors LLC’s holdings in Global Ship Lease were worth $650,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of Global Ship Lease by 126.1% during the third quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock worth $2,421,000 after purchasing an additional 50,660 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Global Ship Lease during the 3rd quarter worth $712,000. Foundry Partners LLC raised its stake in Global Ship Lease by 45.2% in the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after buying an additional 148,247 shares during the last quarter. Sei Investments Co. raised its stake in Global Ship Lease by 780.1% in the second quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock valued at $2,984,000 after buying an additional 91,880 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in Global Ship Lease in the third quarter worth about $2,894,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GSL shares. Clarkson Capital cut shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price for the company. in a research note on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research note on Monday, November 11th. Finally, StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th.

Global Ship Lease Stock Down 1.5 %

GSL stock opened at $21.11 on Friday. Global Ship Lease, Inc. has a 12 month low of $18.75 and a 12 month high of $30.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The company has a market capitalization of $778.19 million, a P/E ratio of 2.34 and a beta of 1.55. The firm’s fifty day simple moving average is $21.96 and its 200-day simple moving average is $24.01.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate of $175.83 million. During the same quarter in the prior year, the business earned $2.33 earnings per share. As a group, equities research analysts forecast that Global Ship Lease, Inc. will post 9.79 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Friday, November 22nd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.53%. The ex-dividend date was Friday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.93%.

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.