MQS Management LLC Takes $253,000 Position in Global Ship Lease, Inc. (NYSE:GSL)

MQS Management LLC acquired a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 12,477 shares of the shipping company’s stock, valued at approximately $253,000.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. bought a new stake in Global Ship Lease during the fourth quarter worth $40,000. Signaturefd LLC grew its stake in Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 945 shares during the period. Quadrant Capital Group LLC grew its stake in Global Ship Lease by 150.2% in the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock valued at $142,000 after purchasing an additional 4,314 shares during the period. Clear Street Markets LLC bought a new position in Global Ship Lease in the 4th quarter valued at $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Global Ship Lease in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GSL shares. Jefferies Financial Group upped their price objective on Global Ship Lease from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Global Ship Lease Price Performance

Shares of NYSE:GSL traded up $0.21 on Friday, hitting $25.34. The company’s stock had a trading volume of 252,808 shares, compared to its average volume of 660,774. The company has a 50-day simple moving average of $27.96 and a 200 day simple moving average of $23.50. Global Ship Lease, Inc. has a 1 year low of $16.80 and a 1 year high of $30.32. The company has a market capitalization of $891.71 million, a PE ratio of 2.84 and a beta of 1.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 1.18.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Thursday, May 16th. The shipping company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.19. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. The business had revenue of $179.56 million for the quarter, compared to analyst estimates of $170.70 million. Sell-side analysts forecast that Global Ship Lease, Inc. will post 9.52 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 24th were given a $0.375 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.92%. Global Ship Lease’s dividend payout ratio is currently 16.95%.

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.