Bank of Montreal Can Purchases New Position in Global Ship Lease, Inc. (NYSE:GSL)

Bank of Montreal Can purchased a new stake in Global Ship Lease, Inc. (NYSE:GSL) during the second quarter, according to its most recent filing with the SEC. The firm purchased 32,121 shares of the shipping company’s stock, valued at approximately $623,000. Bank of Montreal Can owned 0.09% of Global Ship Lease at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GSL. Thrivent Financial for Lutherans grew its stake in shares of Global Ship Lease by 1.5% during the 1st quarter. Thrivent Financial for Lutherans now owns 38,321 shares of the shipping company’s stock worth $718,000 after acquiring an additional 556 shares in the last quarter. Csenge Advisory Group grew its stake in shares of Global Ship Lease by 3.3% during the 1st quarter. Csenge Advisory Group now owns 27,253 shares of the shipping company’s stock worth $511,000 after acquiring an additional 871 shares in the last quarter. Clear Street Markets LLC bought a new position in shares of Global Ship Lease during the 4th quarter worth approximately $35,000. BNP Paribas Arbitrage SA grew its stake in shares of Global Ship Lease by 13.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,193 shares of the shipping company’s stock worth $317,000 after acquiring an additional 2,339 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Global Ship Lease during the 1st quarter worth approximately $47,000. 47.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Global Ship Lease in a research note on Thursday, October 5th. They issued a “buy” rating for the company.

Global Ship Lease Stock Up 0.4 %

GSL opened at $17.93 on Thursday. Global Ship Lease, Inc. has a fifty-two week low of $15.82 and a fifty-two week high of $21.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 0.91. The company has a market capitalization of $645.30 million, a P/E ratio of 2.11 and a beta of 1.68. The stock has a fifty day moving average of $17.90 and a 200-day moving average of $18.83.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Thursday, November 9th. The shipping company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.17. Global Ship Lease had a return on equity of 30.42% and a net margin of 47.28%. The company had revenue of $174.53 million during the quarter, compared to the consensus estimate of $163.42 million. On average, equities analysts expect that Global Ship Lease, Inc. will post 8.88 EPS for the current year.

Global Ship Lease Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 24th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 8.37%. The ex-dividend date is Wednesday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 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.