Kestra Private Wealth Services LLC Purchases New Stake in Global Ship Lease, Inc. (NYSE:GSL)

Kestra Private Wealth Services LLC purchased a new stake in Global Ship Lease, Inc. (NYSE:GSL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 40,212 shares of the shipping company’s stock, valued at approximately $797,000.

A number of other large investors have also added to or reduced their stakes in the business. Donald Smith & CO. Inc. raised its stake in Global Ship Lease by 235.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock valued at $31,002,000 after acquiring an additional 1,098,558 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Global Ship Lease during the 4th quarter worth $21,588,000. Foundry Partners LLC increased its position in Global Ship Lease by 19.8% during the 3rd quarter. Foundry Partners LLC now owns 306,024 shares of the shipping company’s stock worth $5,612,000 after buying an additional 50,680 shares during the period. Commonwealth Equity Services LLC increased its position in Global Ship Lease by 2.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 129,586 shares of the shipping company’s stock worth $2,377,000 after buying an additional 3,356 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Global Ship Lease by 47.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 106,676 shares of the shipping company’s stock worth $1,956,000 after buying an additional 34,313 shares during the period. Institutional investors own 50.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GSL shares. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price objective on shares of Global Ship Lease in a research report on Monday, March 4th. StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

Global Ship Lease Stock Performance

GSL opened at $23.14 on Friday. The firm has a market cap of $814.30 million, a P/E ratio of 2.78 and a beta of 1.46. Global Ship Lease, Inc. has a 52-week low of $16.80 and a 52-week high of $23.28. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.00 and a current ratio of 1.05. The business’s fifty day moving average is $20.85 and its 200-day moving average is $19.84.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Monday, March 4th. The shipping company reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.15. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. The firm had revenue of $178.89 million for the quarter, compared to analyst estimates of $171.54 million. During the same period last year, the firm posted $2.14 earnings per share. Sell-side analysts expect that Global Ship Lease, Inc. will post 9.4 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date was Wednesday, February 21st. Global Ship Lease’s payout ratio is 18.01%.

Global Ship Lease Company Profile

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.