Farther Finance Advisors LLC Acquires Shares of 979 Global Ship Lease, Inc. $GSL

Farther Finance Advisors LLC bought a new stake in Global Ship Lease, Inc. (NYSE:GSL) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 979 shares of the shipping company’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC purchased a new position in shares of Global Ship Lease in the 2nd quarter valued at $68,680,000. Redhawk Wealth Advisors Inc. grew its position in shares of Global Ship Lease by 7.0% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 49,385 shares of the shipping company’s stock valued at $1,299,000 after buying an additional 3,227 shares during the last quarter. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Global Ship Lease in the 2nd quarter valued at $1,242,000. Harbor Capital Advisors Inc. grew its position in shares of Global Ship Lease by 1.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 536,747 shares of the shipping company’s stock valued at $14,122,000 after buying an additional 9,978 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Global Ship Lease by 6.7% in the 2nd quarter. Parallel Advisors LLC now owns 9,342 shares of the shipping company’s stock valued at $246,000 after buying an additional 584 shares during the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GSL shares. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research report on Wednesday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $33.00 price objective on shares of Global Ship Lease in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Global Ship Lease Stock Down 1.9%

GSL stock opened at $28.67 on Thursday. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $33.08. The stock has a market capitalization of $1.03 billion, a PE ratio of 2.66 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 2.01. The company has a fifty day moving average of $30.64 and a 200-day moving average of $26.50.

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

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 24th were paid a $0.5469 dividend. This represents a $2.19 annualized dividend and a dividend yield of 7.6%. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.53. Global Ship Lease’s dividend payout ratio (DPR) is 19.50%.

Global Ship Lease 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.