Charles Schwab Investment Management Inc. Cuts Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Charles Schwab Investment Management Inc. lowered its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 49.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,772 shares of the shipping company’s stock after selling 16,506 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Global Ship Lease were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Global Ship Lease in the third quarter valued at about $1,441,000. Point72 Asset Management L.P. purchased a new stake in shares of Global Ship Lease during the 3rd quarter valued at about $712,000. DGS Capital Management LLC lifted its stake in shares of Global Ship Lease by 125.1% in the 4th quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock worth $1,008,000 after purchasing an additional 25,651 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Global Ship Lease in the third quarter worth approximately $579,000. Finally, Crescent Grove Advisors LLC grew its position in Global Ship Lease by 215.6% during the fourth quarter. Crescent Grove Advisors LLC now owns 29,789 shares of the shipping company’s stock valued at $650,000 after buying an additional 20,349 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GSL has been the topic of a number of recent analyst reports. Clarkson Capital upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group restated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research note on Wednesday, March 5th.

Global Ship Lease Stock Up 1.2 %

GSL opened at $23.11 on Wednesday. Global Ship Lease, Inc. has a 52 week low of $20.11 and a 52 week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $22.44 and a two-hundred day simple moving average of $23.00. The company has a market capitalization of $819.32 million, a PE ratio of 2.56 and a beta of 1.47.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The company had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. Analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.79%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease’s dividend payout ratio is currently 18.50%.

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.