Global Ship Lease, Inc. $GSL Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 34.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,897 shares of the shipping company’s stock after purchasing an additional 26,542 shares during the period. LPL Financial LLC owned approximately 0.29% of Global Ship Lease worth $2,351,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its stake in shares of Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock valued at $56,000 after buying an additional 717 shares during the period. WealthCollab LLC grew its position in Global Ship Lease by 64.1% during the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 1,021 shares during the period. NBC Securities Inc. increased its stake in Global Ship Lease by 111,333.3% during the first quarter. NBC Securities Inc. now owns 3,343 shares of the shipping company’s stock worth $76,000 after acquiring an additional 3,340 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in Global Ship Lease during the first quarter worth about $194,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Global Ship Lease in the 1st quarter worth about $204,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $30.73 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $30.98. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 2.85 and a beta of 1.21. The business has a 50-day moving average of $27.83 and a 200-day moving average of $24.38.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.52. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%. The firm had revenue of $191.86 million during the quarter, compared to analysts’ expectations of $177.98 million. On average, equities analysts anticipate that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.8%. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Clarkson Capital cut Global Ship Lease from a “strong-buy” rating to a “hold” rating and set a $28.00 target price for the company. in a report on Thursday, May 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Global Ship Lease in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th.

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.