Global Ship Lease, Inc. (NYSE:GSL – Get Free Report) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,710,000 shares, an increase of 6.2% from the October 15th total of 1,610,000 shares. Currently, 5.3% of the shares of the stock are sold short. Based on an average daily volume of 577,400 shares, the short-interest ratio is presently 3.0 days.
Institutional Trading of Global Ship Lease
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Moors & Cabot Inc. grew its holdings in Global Ship Lease by 6.1% during the 1st quarter. Moors & Cabot Inc. now owns 79,775 shares of the shipping company’s stock worth $1,495,000 after acquiring an additional 4,600 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Global Ship Lease in the second quarter valued at approximately $623,000. LPL Financial LLC raised its position in Global Ship Lease by 19.2% in the 2nd quarter. LPL Financial LLC now owns 88,683 shares of the shipping company’s stock worth $1,720,000 after purchasing an additional 14,254 shares during the last quarter. Isthmus Partners LLC lifted its holdings in Global Ship Lease by 7.6% during the 1st quarter. Isthmus Partners LLC now owns 85,369 shares of the shipping company’s stock worth $1,600,000 after buying an additional 5,998 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Global Ship Lease by 38.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,248,201 shares of the shipping company’s stock valued at $24,192,000 after buying an additional 349,692 shares during the last quarter. 47.51% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com assumed coverage on Global Ship Lease in a research report on Thursday, October 5th. They set a “buy” rating for the company.
Global Ship Lease Trading Up 1.0 %
Shares of Global Ship Lease stock opened at $17.85 on Friday. The stock has a market capitalization of $642.42 million, a P/E ratio of 2.10 and a beta of 1.68. Global Ship Lease has a 12-month low of $15.82 and a 12-month high of $21.83. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $17.88 and a 200 day simple moving average of $18.82.
Global Ship Lease (NYSE:GSL – Get Free Report) last posted its earnings results on Thursday, November 9th. The shipping company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.17. The company had revenue of $174.53 million during the quarter, compared to analysts’ expectations of $163.42 million. Global Ship Lease had a net margin of 47.28% and a return on equity of 30.42%. Research analysts expect that Global Ship Lease will post 8.88 earnings per share for the current fiscal year.
Global Ship Lease Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders 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 8.40%. The ex-dividend date of this dividend is Wednesday, November 22nd. Global Ship Lease’s dividend payout ratio is currently 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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