Jones Financial Companies Lllp Grows Position in Global Ship Lease, Inc. (NYSE:GSL)

Jones Financial Companies Lllp grew its stake in Global Ship Lease, Inc. (NYSE:GSL) by 37.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,517 shares of the shipping company’s stock after purchasing an additional 4,231 shares during the period. Jones Financial Companies Lllp’s holdings in Global Ship Lease were worth $339,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of Global Ship Lease in the 4th quarter valued at approximately $50,000. Quarry LP increased its holdings in Global Ship Lease by 75.0% during the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after purchasing an additional 1,498 shares during the period. Blue Trust Inc. increased its holdings in Global Ship Lease by 35.8% during the 4th quarter. Blue Trust Inc. now owns 15,196 shares of the shipping company’s stock worth $332,000 after purchasing an additional 4,010 shares during the period. DGS Capital Management LLC increased its holdings in Global Ship Lease by 121.1% during the 3rd quarter. DGS Capital Management LLC now owns 20,507 shares of the shipping company’s stock worth $547,000 after purchasing an additional 11,233 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Global Ship Lease in the 3rd quarter valued at $579,000. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Stock Performance

Shares of GSL stock opened at $23.33 on Wednesday. The stock has a market cap of $859.95 million, a PE ratio of 2.58 and a beta of 1.47. Global Ship Lease, Inc. has a 52-week low of $19.22 and a 52-week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $22.08 and a 200-day simple moving average of $23.11.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The company had revenue of $182.43 million during the quarter, compared to analysts’ expectations of $170.71 million. On average, equities analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a yield of 7.72%. Global Ship Lease’s dividend payout ratio (DPR) is currently 18.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GSL shares. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Thursday, November 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th. Finally, StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

About Global Ship Lease

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.