Novem Group Makes New $768,000 Investment in Global Ship Lease, Inc. (NYSE:GSL)

Novem Group bought a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 35,200 shares of the shipping company’s stock, valued at approximately $768,000. Novem Group owned approximately 0.10% of Global Ship Lease at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. WealthCollab LLC grew its holdings in shares of Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 1,021 shares in the last quarter. Isthmus Partners LLC boosted its position in Global Ship Lease by 1.3% during the fourth quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company’s stock valued at $2,463,000 after purchasing an additional 1,460 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake 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 valued at $36,000 after purchasing an additional 1,577 shares in the last quarter. Pinnacle Holdings LLC increased its position in Global Ship Lease by 88.8% in the 4th quarter. Pinnacle Holdings LLC now owns 3,359 shares of the shipping company’s stock worth $73,000 after purchasing an additional 1,580 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Global Ship Lease during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com raised Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Thursday. Clarkson Capital raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group increased their price target on shares of Global Ship Lease from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday.

Global Ship Lease Stock Performance

GSL opened at $25.67 on Thursday. The stock has a 50-day moving average of $21.95 and a 200-day moving average of $22.18. 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, Inc. has a 52-week low of $17.73 and a 52-week high of $30.32. The company has a market cap of $909.89 million, a PE ratio of 2.84 and a beta of 1.10.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Monday, May 19th. The shipping company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.38. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $190.98 million during the quarter, compared to analysts’ expectations of $171.73 million. During the same quarter in the prior year, the business earned $2.53 earnings per share. As a group, equities research analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd will be issued a dividend of $0.525 per share. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 8.18%. The ex-dividend date is Friday, May 23rd. Global Ship Lease’s dividend payout ratio is currently 19.83%.

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.