Mirae Asset Global Investments Co. Ltd. Sells 3,392 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 40.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,987 shares of the shipping company’s stock after selling 3,392 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Global Ship Lease were worth $108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. grew its holdings in shares of Global Ship Lease by 147.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after acquiring an additional 301,280 shares during the period. Donald Smith & CO. Inc. raised its holdings in Global Ship Lease by 14.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company’s stock worth $49,503,000 after purchasing an additional 229,623 shares in the last quarter. Foundry Partners LLC lifted its position in Global Ship Lease by 45.2% during the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after buying an additional 148,247 shares during the period. Moran Wealth Management LLC purchased a new position in Global Ship Lease during the third quarter valued at $2,894,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Global Ship Lease by 62.5% during the 3rd quarter. GSA Capital Partners LLP now owns 173,391 shares of the shipping company’s stock valued at $4,621,000 after buying an additional 66,714 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

Global Ship Lease Stock Performance

Shares of Global Ship Lease stock opened at $22.63 on Friday. The stock has a market cap of $833.96 million, a price-to-earnings ratio of 2.51 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. Global Ship Lease, Inc. has a 1 year low of $18.75 and a 1 year high of $30.32. The firm’s 50-day moving average is $21.80 and its 200 day moving average is $23.62.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date is Monday, February 24th. Global Ship Lease’s payout ratio is 19.93%.

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.