Global Ship Lease, Inc. $GSL Shares Bought by Highline Wealth Partners LLC

Highline Wealth Partners LLC grew its position in Global Ship Lease, Inc. (NYSE:GSL) by 11.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,450 shares of the shipping company’s stock after purchasing an additional 950 shares during the period. Highline Wealth Partners LLC’s holdings in Global Ship Lease were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new position in shares of Global Ship Lease during the second quarter valued at approximately $68,680,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Global Ship Lease during the 1st quarter worth approximately $13,304,000. SG Americas Securities LLC raised its position in Global Ship Lease by 182.9% in the 1st quarter. SG Americas Securities LLC now owns 180,858 shares of the shipping company’s stock valued at $4,133,000 after purchasing an additional 116,917 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of Global Ship Lease by 2.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,220,085 shares of the shipping company’s stock valued at $73,579,000 after acquiring an additional 80,615 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of Global Ship Lease by 208.7% during the first quarter. GSA Capital Partners LLP now owns 114,989 shares of the shipping company’s stock worth $2,627,000 after purchasing an additional 77,743 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Stock Performance

GSL opened at $31.91 on Friday. The business’s 50 day moving average is $30.41 and its 200-day moving average is $26.12. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.13 billion, a PE ratio of 2.96 and a beta of 1.12. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $33.08.

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

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 24th will be issued a $0.5469 dividend. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.53. This represents a $2.19 annualized dividend and a dividend yield of 6.9%. Global Ship Lease’s dividend payout ratio is 19.50%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GSL shares. Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Global Ship Lease in a research report on Tuesday, August 5th. Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Global Ship Lease presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

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.