Global Ship Lease, Inc. $GSL Stock Holdings Trimmed by Novem Group

Novem Group lessened its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,600 shares of the shipping company’s stock after selling 600 shares during the period. Novem Group owned about 0.10% of Global Ship Lease worth $910,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GSL. Farther Finance Advisors LLC bought a new position in shares of Global Ship Lease in the 2nd quarter worth about $26,000. SVB Wealth LLC acquired a new position in shares of Global Ship Lease during the first quarter valued at $33,000. SBI Securities Co. Ltd. boosted its holdings in shares of Global Ship Lease by 41.9% during the first quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock valued at $56,000 after acquiring an additional 717 shares during the period. NBC Securities Inc. grew its position in shares of 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. Finally, Quarry LP increased its holdings in shares of Global Ship Lease by 321.6% in the 1st quarter. Quarry LP now owns 8,222 shares of the shipping company’s stock worth $188,000 after acquiring an additional 6,272 shares during the period. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Stock Performance

Shares of NYSE GSL opened at $31.91 on Friday. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $33.08. The firm has a market cap of $1.13 billion, a P/E ratio of 2.96 and a beta of 1.12. The stock has a fifty day moving average price of $30.41 and a two-hundred day moving average price of $26.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 2.01.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Tuesday, August 5th. The shipping company reported $2.67 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $191.86 million during the quarter, compared to analyst estimates of $177.98 million. Research analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

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

Analysts Set New Price Targets

GSL has been the topic of several recent analyst reports. Wall Street Zen raised Global Ship Lease from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Jefferies Financial Group restated a “buy” rating and set a $33.00 price objective on shares of Global Ship Lease in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Global Ship Lease currently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

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.