Global Ship Lease, Inc. $GSL Shares Bought by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. raised its position in Global Ship Lease, Inc. (NYSE:GSL) by 7.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 49,385 shares of the shipping company’s stock after buying an additional 3,227 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Global Ship Lease were worth $1,299,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in Global Ship Lease in the 1st quarter valued at $33,000. SBI Securities Co. Ltd. increased its stake in Global Ship Lease by 41.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock valued at $56,000 after buying an additional 717 shares during the period. NBC Securities Inc. grew its stake in shares of Global Ship Lease by 111,333.3% during the 1st quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company’s stock worth $76,000 after purchasing an additional 3,340 shares during the period. Quarry LP grew its stake in shares of Global Ship Lease by 321.6% during the 1st quarter. Quarry LP now owns 8,222 shares of the shipping company’s stock worth $188,000 after purchasing an additional 6,272 shares during the period. Finally, Highline Wealth Partners LLC acquired a new position in shares of Global Ship Lease during the 1st quarter worth $194,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GSL shares. Clarkson Capital cut shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a research note on Thursday, May 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Global Ship Lease in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Ship Lease presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Global Ship Lease Price Performance

Global Ship Lease stock opened at $33.02 on Friday. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $33.08. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $29.90 and its 200 day simple moving average is $25.74. The firm has a market capitalization of $1.17 billion, a PE ratio of 3.07 and a beta of 1.12.

Global Ship Lease (NYSE:GSL) last released its earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.52. The company had revenue of $191.86 million for the quarter, compared to analyst estimates of $177.98 million. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. On average, equities research analysts predict that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 24th will be issued a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a yield of 6.6%. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.53. Global Ship Lease’s dividend payout ratio is 19.50%.

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.