Campbell & CO Investment Adviser LLC Sells 15,260 Shares of Global Ship Lease, Inc. $GSL

Campbell & CO Investment Adviser LLC reduced its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 64.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,452 shares of the shipping company’s stock after selling 15,260 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Global Ship Lease were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CSM Advisors LLC acquired a new position in shares of Global Ship Lease during the 2nd quarter worth $11,057,000. Lonestar Capital Management LLC bought a new stake in shares of Global Ship Lease during the 2nd quarter worth $5,262,000. Acadian Asset Management LLC boosted its stake in Global Ship Lease by 7.3% in the second quarter. Acadian Asset Management LLC now owns 1,305,109 shares of the shipping company’s stock valued at $34,314,000 after buying an additional 89,258 shares in the last quarter. Lazard Asset Management LLC grew its position in Global Ship Lease by 86.7% in the second quarter. Lazard Asset Management LLC now owns 186,631 shares of the shipping company’s stock valued at $4,909,000 after acquiring an additional 86,648 shares during the last quarter. Finally, Man Group plc raised its stake in Global Ship Lease by 30.2% during the second quarter. Man Group plc now owns 268,213 shares of the shipping company’s stock worth $7,057,000 after acquiring an additional 62,149 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GSL. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday. Zacks Research downgraded shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Global Ship Lease currently has an average rating of “Moderate Buy” and an average target price of $33.50.

Global Ship Lease Stock Down 0.6%

NYSE:GSL opened at $36.08 on Friday. Global Ship Lease, Inc. has a one year low of $17.73 and a one year high of $37.22. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.19 and a quick ratio of 2.14. The company has a market cap of $1.29 billion, a PE ratio of 3.24 and a beta of 0.93. The firm’s 50 day simple moving average is $35.13 and its 200 day simple moving average is $31.88.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.35. The firm had revenue of $192.67 million during the quarter, compared to the consensus estimate of $180.36 million. Global Ship Lease had a net margin of 53.62% and a return on equity of 23.98%. The business’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.50 annualized dividend and a 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 is 22.44%.

Global Ship Lease Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.