Global Ship Lease, Inc. (NYSE:GSL) Stock Position Trimmed by nVerses Capital LLC

nVerses Capital LLC trimmed its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 39.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,500 shares of the shipping company’s stock after selling 1,600 shares during the period. nVerses Capital LLC’s holdings in Global Ship Lease were worth $67,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. ARGA Investment Management LP acquired a new position in shares of Global Ship Lease during the first quarter worth approximately $1,227,000. BluePath Capital Management LLC bought a new position in shares of Global Ship Lease in the first quarter worth $559,000. Janney Montgomery Scott LLC raised its stake in shares of Global Ship Lease by 10.4% during the first quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock valued at $584,000 after purchasing an additional 2,703 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Global Ship Lease by 6.7% during the first quarter. GSA Capital Partners LLP now owns 62,426 shares of the shipping company’s stock valued at $1,267,000 after purchasing an additional 3,941 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new stake in Global Ship Lease in the first quarter worth about $271,000. Institutional investors own 50.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $24.80 on Tuesday. Global Ship Lease, Inc. has a twelve month low of $16.80 and a twelve month high of $30.32. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $25.13 and a two-hundred day moving average of $25.69. The company has a market capitalization of $872.66 million, a price-to-earnings ratio of 2.80 and a beta of 1.60.

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

Global Ship Lease Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 23rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.26%. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, August 23rd. Global Ship Lease’s payout ratio 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.