Moors & Cabot Inc. Has $2.19 Million Holdings in Global Ship Lease, Inc. $GSL

Moors & Cabot Inc. increased its stake in Global Ship Lease, Inc. (NYSE:GSL) by 90.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 83,050 shares of the shipping company’s stock after purchasing an additional 39,400 shares during the quarter. Moors & Cabot Inc.’s holdings in Global Ship Lease were worth $2,185,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GSL. Envestnet Asset Management Inc. lifted its holdings in Global Ship Lease by 9.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,012 shares of the shipping company’s stock valued at $503,000 after purchasing an additional 1,988 shares during the last quarter. Cerity Partners LLC lifted its holdings in Global Ship Lease by 61.2% during the 1st quarter. Cerity Partners LLC now owns 21,156 shares of the shipping company’s stock valued at $483,000 after purchasing an additional 8,033 shares during the last quarter. Isthmus Partners LLC lifted its holdings in Global Ship Lease by 0.7% during the 1st quarter. Isthmus Partners LLC now owns 113,625 shares of the shipping company’s stock valued at $2,596,000 after purchasing an additional 793 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 717 shares during the last quarter. Finally, Foundry Partners LLC lifted its holdings in Global Ship Lease by 1.5% during the 1st quarter. Foundry Partners LLC now owns 511,215 shares of the shipping company’s stock valued at $11,681,000 after purchasing an additional 7,470 shares during the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Stock Up 2.5%

GSL stock opened at $31.82 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 2.95 and a beta of 1.20. The business’s fifty day moving average price is $30.38 and its two-hundred day moving average price is $27.73. Global Ship Lease, Inc. has a fifty-two week low of $17.73 and a fifty-two week high of $33.08.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.52. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The firm had revenue of $191.86 million for the quarter, compared to analysts’ expectations of $177.98 million. On average, equities analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 24th were given a $0.5469 dividend. This represents a $2.19 dividend on an annualized basis and a dividend yield of 6.9%. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.53. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.50%.

Analyst Upgrades and Downgrades

GSL has been the subject of several research reports. Zacks Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a report on Wednesday, October 8th. Wall Street Zen upgraded Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Global Ship Lease in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $30.50.

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.