Harbor Capital Advisors Inc. Has $11.35 Million Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Harbor Capital Advisors Inc. grew its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 519,913 shares of the shipping company’s stock after purchasing an additional 13,828 shares during the period. Harbor Capital Advisors Inc. owned about 1.41% of Global Ship Lease worth $11,350,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GSL. Marshall Wace LLP increased its position in Global Ship Lease by 275.5% in the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after purchasing an additional 783,963 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Global Ship Lease by 97.9% in the 2nd quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after buying an additional 275,500 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Global Ship Lease by 14.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company’s stock valued at $49,503,000 after buying an additional 229,623 shares in the last quarter. Foundry Partners LLC increased its holdings 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 worth $12,684,000 after buying an additional 148,247 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new position in Global Ship Lease during the third quarter valued at approximately $2,894,000. 50.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Clarkson Capital downgraded 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 report on Thursday, November 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a report on Monday, November 11th. Finally, StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

Global Ship Lease Stock Performance

Global Ship Lease stock traded down $0.50 during trading hours on Friday, reaching $21.94. 173,762 shares of the company were exchanged, compared to its average volume of 264,935. Global Ship Lease, Inc. has a 12 month low of $18.75 and a 12 month high of $30.32. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $22.49 and a 200 day moving average of $24.57. The firm has a market cap of $808.75 million, a price-to-earnings ratio of 2.43 and a beta of 1.55.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period in the previous year, the company earned $2.33 earnings per share. As a group, research analysts anticipate that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.20%. The ex-dividend date of this dividend was Friday, November 22nd. Global Ship Lease’s dividend payout ratio is currently 19.93%.

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.