Global Ship Lease, Inc. $GSL Stock Holdings Increased by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. grew its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,238,868 shares of the shipping company’s stock after buying an additional 18,783 shares during the period. Global Ship Lease comprises 2.0% of Donald Smith & CO. Inc.’s portfolio, making the stock its 22nd largest position. Donald Smith & CO. Inc. owned 9.14% of Global Ship Lease worth $85,215,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in shares of Global Ship Lease during the 2nd quarter valued at about $26,000. SVB Wealth LLC acquired a new position in Global Ship Lease in the first quarter valued at approximately $33,000. Allworth Financial LP grew its holdings in shares of Global Ship Lease by 6,605.4% during the second quarter. Allworth Financial LP now owns 2,481 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 2,444 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Global Ship Lease during the 2nd quarter worth approximately $72,000. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Global Ship Lease in the 2nd quarter worth approximately $85,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Trading Down 0.1%

NYSE:GSL opened at $36.22 on Friday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 3.25 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.14 and a current ratio of 2.19. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $36.67. The business has a fifty day moving average of $31.74 and a 200-day moving average of $29.60.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Wednesday, November 12th. The shipping company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. The business had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $180.36 million. Global Ship Lease had a net margin of 53.62% and a return on equity of 23.98%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Friday, November 21st were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.9%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.55. Global Ship Lease’s dividend payout ratio (DPR) is currently 22.44%.

Wall Street Analysts Forecast Growth

GSL has been the subject of a number of recent research reports. Jefferies Financial Group upped their price objective on Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Global Ship Lease has an average rating of “Buy” and an average price target of $33.50.

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.