Janney Montgomery Scott LLC Grows Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Janney Montgomery Scott LLC grew its holdings in Global Ship Lease, Inc. (NYSE:GSLFree Report) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,048 shares of the shipping company’s stock after acquiring an additional 3,011 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of Global Ship Lease worth $516,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Whittier Trust Co. purchased a new stake in shares of Global Ship Lease in the 4th quarter valued at $40,000. Signaturefd LLC boosted its holdings in shares of Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 945 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Global Ship Lease in the 4th quarter valued at $201,000. Kestra Advisory Services LLC boosted its holdings 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 acquiring an additional 1,264 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Global Ship Lease in the 4th quarter valued at $218,000. 50.08% of the stock is owned by hedge funds and other institutional investors.

Global Ship Lease Stock Performance

Shares of NYSE GSL opened at $28.65 on Wednesday. The company’s fifty day moving average price is $23.87 and its 200 day moving average price is $21.26. Global Ship Lease, Inc. has a 1 year low of $16.80 and a 1 year high of $30.32. The company has a market capitalization of $1.01 billion, a PE ratio of 3.24 and a beta of 1.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.24.

Global Ship Lease (NYSE:GSLGet Free Report) last posted its quarterly earnings data on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. The company had revenue of $178.89 million during the quarter, compared to analysts’ expectations of $171.54 million. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. During the same period in the prior year, the business posted $2.14 earnings per share. On average, research analysts predict that Global Ship Lease, Inc. will post 9.61 earnings per share for the current year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 24th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend was Thursday, May 23rd. Global Ship Lease’s dividend payout ratio is presently 16.95%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Global Ship Lease from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. StockNews.com raised shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st.

Read Our Latest Stock Analysis on Global Ship Lease

Global Ship Lease Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Global Ship Lease (NYSE:GSL)

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