Charles Schwab Investment Management Inc. Decreases Stake in Global Ship Lease, Inc. (NYSE:GSL)

Charles Schwab Investment Management Inc. decreased its position in Global Ship Lease, Inc. (NYSE:GSL) by 32.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 33,278 shares of the shipping company’s stock after selling 15,758 shares during the period. Charles Schwab Investment Management Inc. owned about 0.09% of Global Ship Lease worth $887,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Global Ship Lease by 2,642.1% during the second quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock valued at $90,000 after acquiring an additional 3,012 shares in the last quarter. Summit Securities Group LLC boosted its position in Global Ship Lease by 404.2% during the 2nd quarter. Summit Securities Group LLC now owns 12,100 shares of the shipping company’s stock valued at $348,000 after acquiring an additional 9,700 shares in the last quarter. Signaturefd LLC boosted its position in Global Ship Lease by 23.3% during the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after acquiring an additional 477 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Global Ship Lease by 355.6% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock worth $118,000 after acquiring an additional 3,200 shares during the period. Finally, Ritholtz Wealth Management bought a new position in shares of Global Ship Lease in the 2nd quarter worth approximately $221,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Stock Up 0.1 %

Shares of NYSE:GSL opened at $21.31 on Wednesday. Global Ship Lease, Inc. has a 12-month low of $18.75 and a 12-month high of $30.32. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $23.30 and a two-hundred day simple moving average of $25.34. The stock has a market capitalization of $785.53 million, a price-to-earnings ratio of 2.36 and a beta of 1.55.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $174.06 million during the quarter, compared to analyst estimates of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period last year, the business earned $2.33 EPS. On average, research analysts anticipate that Global Ship Lease, Inc. will post 9.85 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.45%. The ex-dividend date of this dividend was Friday, November 22nd. Global Ship Lease’s dividend payout ratio is currently 19.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday, November 11th. Clarkson Capital downgraded shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Thursday, November 14th. Finally, StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

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.