Mirae Asset Global Investments Co. Ltd. Purchases Shares of 10,987 Global Ship Lease, Inc. (NYSE:GSL)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Global Ship Lease, Inc. (NYSE:GSL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,987 shares of the shipping company’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its holdings in Global Ship Lease by 2.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,037 shares of the shipping company’s stock valued at $423,000 after buying an additional 603 shares during the period. Kestra Advisory Services LLC boosted its stake in shares of Global Ship Lease by 12.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 11,808 shares of the shipping company’s stock valued at $217,000 after purchasing an additional 1,264 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of Global Ship Lease by 6.5% in the 3rd quarter. WINTON GROUP Ltd now owns 21,500 shares of the shipping company’s stock valued at $394,000 after purchasing an additional 1,311 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Global Ship Lease by 7.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,303 shares of the shipping company’s stock valued at $391,000 after purchasing an additional 1,477 shares in the last quarter. Finally, Whittier Trust Co. acquired a new stake in shares of Global Ship Lease in the 4th quarter valued at $40,000. Institutional investors own 50.08% of the company’s stock.

Wall Street Analyst Weigh In

GSL has been the topic of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Global Ship Lease in a research note on Monday, March 4th. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 23rd.

Global Ship Lease Stock Up 1.5 %

Shares of NYSE GSL opened at $22.81 on Friday. The firm’s 50-day simple moving average is $20.57 and its 200 day simple moving average is $19.67. The company has a market cap of $802.64 million, a price-to-earnings ratio of 2.74 and a beta of 1.50. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Global Ship Lease, Inc. has a 12-month low of $16.80 and a 12-month high of $22.97.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.15. The business had revenue of $178.89 million for the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a net margin of 45.12% and a return on equity of 29.87%. During the same quarter in the prior year, the company earned $2.14 EPS. On average, research analysts expect that Global Ship Lease, Inc. will post 9.4 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 22nd were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.50 annualized dividend and a yield of 6.58%. Global Ship Lease’s dividend payout ratio (DPR) is 18.01%.

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.