Short Interest in Global Ship Lease, Inc. (NYSE:GSL) Grows By 19.0%

Global Ship Lease, Inc. (NYSE:GSLGet Rating) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,750,000 shares, a growth of 19.0% from the June 30th total of 2,310,000 shares. Based on an average trading volume of 902,100 shares, the short-interest ratio is currently 3.0 days.

Global Ship Lease Trading Down 4.9 %

Shares of GSL opened at $19.09 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 1.08. Global Ship Lease has a 12-month low of $14.62 and a 12-month high of $30.02. The firm has a 50-day moving average price of $18.51 and a 200 day moving average price of $22.98. The firm has a market capitalization of $696.10 million, a P/E ratio of 3.02 and a beta of 1.78.

Global Ship Lease (NYSE:GSLGet Rating) last announced its quarterly earnings data on Monday, May 9th. The shipping company reported $1.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.91. The firm had revenue of $153.63 million during the quarter, compared to analyst estimates of $148.40 million. Global Ship Lease had a net margin of 45.10% and a return on equity of 33.34%. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Sell-side analysts forecast that Global Ship Lease will post 7.23 EPS for the current year.

Global Ship Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Tuesday, May 24th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 7.86%. The ex-dividend date was Monday, May 23rd. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.25. Global Ship Lease’s dividend payout ratio (DPR) is 23.70%.

Analysts Set New Price Targets

GSL has been the subject of a number of recent research reports. TheStreet cut shares of Global Ship Lease from a “b” rating to a “c+” rating in a research report on Monday, May 2nd. StockNews.com cut shares of Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Finally, Jefferies Financial Group began coverage on shares of Global Ship Lease in a report on Wednesday, July 20th. They issued a “buy” rating and a $22.00 price objective for the company.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Whitefort Capital Management LP purchased a new position in Global Ship Lease during the fourth quarter worth about $22,068,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Global Ship Lease in the first quarter valued at approximately $22,416,000. Gratia Capital LLC boosted its stake in shares of Global Ship Lease by 235.8% in the fourth quarter. Gratia Capital LLC now owns 746,325 shares of the shipping company’s stock valued at $17,098,000 after purchasing an additional 524,083 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Global Ship Lease by 26.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 666,394 shares of the shipping company’s stock valued at $14,987,000 after purchasing an additional 140,000 shares during the period. Finally, Lonestar Capital Management LLC boosted its stake in shares of Global Ship Lease by 9.1% in the fourth quarter. Lonestar Capital Management LLC now owns 654,387 shares of the shipping company’s stock valued at $14,992,000 after purchasing an additional 54,387 shares during the period. Hedge funds and other institutional investors own 44.90% of the company’s stock.

Global Ship Lease Company Profile

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Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2022, 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.

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