Short Interest in Global Ship Lease, Inc. (NYSE:GSL) Increases By 6.5%

Global Ship Lease, Inc. (NYSE:GSLGet Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,150,000 shares, a growth of 6.5% from the February 29th total of 1,080,000 shares. Based on an average daily volume of 605,500 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.5% of the shares of the stock are short sold.

Global Ship Lease Stock Up 4.4 %

NYSE:GSL opened at $21.13 on Thursday. The firm’s 50 day simple moving average is $20.29 and its 200 day simple moving average is $19.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00. Global Ship Lease has a one year low of $16.80 and a one year high of $21.94. The company has a market cap of $743.56 million, a PE ratio of 2.54 and a beta of 1.50.

Global Ship Lease (NYSE:GSLGet Free Report) last issued its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. The firm had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same quarter in the previous year, the company earned $2.14 EPS. On average, research analysts anticipate that Global Ship Lease will post 9.4 earnings per share for the current year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were given a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.10%. Global Ship Lease’s dividend payout ratio (DPR) is currently 18.01%.

Analyst Upgrades and Downgrades

GSL has been the topic of several recent research reports. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 target price on shares of Global Ship Lease in a research report on Monday, March 4th.

View Our Latest Stock Analysis on Global Ship Lease

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. acquired a new position in shares of Global Ship Lease in the 4th quarter worth approximately $40,000. Signaturefd LLC lifted its position in shares of Global Ship Lease by 87.6% during the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 945 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Global Ship Lease during the 3rd quarter valued at $38,000. Clear Street Markets LLC acquired a new position in shares of Global Ship Lease during the 4th quarter valued at $35,000. Finally, Quarry LP acquired a new position in shares of Global Ship Lease during the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

About Global Ship Lease

(Get Free Report)

Global Ship Lease, Inc owns and charters containerships under fixed-rate charters to container shipping companies. As of March 10, 2023, it owned 65 mid-sized and smaller containerships with an aggregate capacity of 342,348 twenty-foot equivalent units. The company was founded in 2007 and is based in London, the United Kingdom.

Further Reading

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