JPMorgan Chase & Co. Buys 8,890 Shares of Global Ship Lease, Inc. (NYSE:GSL)

JPMorgan Chase & Co. boosted its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,053 shares of the shipping company’s stock after purchasing an additional 8,890 shares during the quarter. JPMorgan Chase & Co. owned 1.06% of Global Ship Lease worth $10,422,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Quarry LP raised its position in shares of Global Ship Lease by 75.0% during the third quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock valued at $93,000 after buying an additional 1,498 shares during the last quarter. Fairscale Capital LLC bought a new position in Global Ship Lease during the second quarter valued at about $107,000. U S Global Investors Inc. acquired a new position in Global Ship Lease in the 3rd quarter valued at approximately $150,000. Point72 Hong Kong Ltd bought a new stake in shares of Global Ship Lease in the 2nd quarter worth approximately $210,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Global Ship Lease during the 3rd quarter worth approximately $213,000. 50.08% of the stock is owned by institutional investors.

Global Ship Lease Stock Performance

Shares of NYSE:GSL opened at $22.06 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The business’s fifty day moving average price is $22.45 and its two-hundred day moving average price is $24.44. Global Ship Lease, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $30.32. The stock has a market capitalization of $813.18 million, a price-to-earnings ratio of 2.44 and a beta of 1.55.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The firm had revenue of $174.06 million during the quarter, compared to the consensus estimate of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period last year, the firm posted $2.33 EPS. As a group, analysts predict that Global Ship Lease, Inc. will post 9.85 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Friday, November 22nd were issued a dividend of $0.45 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 8.16%. Global Ship Lease’s dividend payout ratio is 19.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Clarkson Capital lowered shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Thursday, November 14th.

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.