Global Ship Lease, Inc. (NYSE:GSL) Shares Bought by Altus Wealth Group LLC

Altus Wealth Group LLC grew its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 21.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,314 shares of the shipping company’s stock after purchasing an additional 2,834 shares during the period. Altus Wealth Group LLC’s holdings in Global Ship Lease were worth $435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of Global Ship Lease by 23.3% during the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock worth $73,000 after acquiring an additional 477 shares during the period. Mather Group LLC. purchased a new position in shares of Global Ship Lease during the 2nd quarter worth about $88,000. Blue Trust Inc. lifted its holdings in shares of Global Ship Lease by 2,642.1% during the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after acquiring an additional 3,012 shares during the period. Fairscale Capital LLC purchased a new position in shares of Global Ship Lease during the 2nd quarter worth about $107,000. Finally, nVerses Capital LLC lifted its holdings in shares of Global Ship Lease by 355.6% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock worth $118,000 after acquiring an additional 3,200 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GSL shares. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 11th. Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a report on Monday, August 5th.

Global Ship Lease Stock Down 1.8 %

Shares of GSL traded down $0.44 during mid-day trading on Wednesday, reaching $24.37. 94,102 shares of the stock traded hands, compared to its average volume of 570,456. The firm has a market cap of $857.53 million, a price-to-earnings ratio of 2.80 and a beta of 1.60. The stock has a fifty day simple moving average of $25.09 and a 200 day simple moving average of $25.72. Global Ship Lease, Inc. has a 12-month low of $16.80 and a 12-month high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $172.07 million. During the same quarter last year, the company earned $2.09 earnings per share. Sell-side analysts expect that Global Ship Lease, Inc. will post 9.9 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Friday, August 23rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.39%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.95%.

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.