LPL Financial LLC lifted its holdings in Global Ship Lease, Inc. (NYSE:GSL – Free Report) by 19.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,683 shares of the shipping company’s stock after acquiring an additional 14,254 shares during the period. LPL Financial LLC’s holdings in Global Ship Lease were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. grew its stake in shares of Global Ship Lease by 25.8% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 66,063 shares of the shipping company’s stock valued at $1,282,000 after buying an additional 13,535 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in Global Ship Lease during the 2nd quarter valued at about $246,000. Crescent Grove Advisors LLC boosted its stake in shares of Global Ship Lease by 120.8% in the 2nd quarter. Crescent Grove Advisors LLC now owns 23,145 shares of the shipping company’s stock worth $449,000 after buying an additional 12,665 shares during the last quarter. AE Wealth Management LLC purchased a new position in shares of Global Ship Lease in the 2nd quarter worth approximately $429,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Global Ship Lease by 715.9% in the 1st quarter. JPMorgan Chase & Co. now owns 63,137 shares of the shipping company’s stock worth $1,183,000 after buying an additional 55,399 shares during the last quarter. 47.51% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on shares of Global Ship Lease in a report on Thursday, October 5th. They issued a “buy” rating on the stock.
Global Ship Lease Trading Down 0.9 %
Shares of GSL stock opened at $17.17 on Monday. The company’s fifty day simple moving average is $17.97 and its two-hundred day simple moving average is $18.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.72. Global Ship Lease, Inc. has a 1 year low of $15.82 and a 1 year high of $21.83. The stock has a market capitalization of $617.95 million, a price-to-earnings ratio of 2.02 and a beta of 1.68.
Global Ship Lease (NYSE:GSL – Get Free Report) last released its quarterly earnings results on Thursday, November 9th. The shipping company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.17. Global Ship Lease had a net margin of 47.28% and a return on equity of 31.35%. The firm had revenue of $174.53 million for the quarter, compared to analysts’ expectations of $163.42 million. As a group, analysts anticipate that Global Ship Lease, Inc. will post 8.6 earnings per share for the current year.
Global Ship Lease Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 8.74%. The ex-dividend date is Wednesday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is 17.65%.
Global Ship Lease Company Profile
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.
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