7,692 Shares in Global Ship Lease, Inc. (NYSE:GSL) Bought by Ritholtz Wealth Management

Ritholtz Wealth Management bought a new position in Global Ship Lease, Inc. (NYSE:GSL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,692 shares of the shipping company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC grew its position in Global Ship Lease by 23.3% in the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock worth $73,000 after acquiring an additional 477 shares in the last quarter. Apollon Wealth Management LLC grew its position in Global Ship Lease by 7.9% in the fourth quarter. Apollon Wealth Management LLC now owns 22,189 shares of the shipping company’s stock worth $440,000 after acquiring an additional 1,620 shares in the last quarter. Tidal Investments LLC grew its position in Global Ship Lease by 14.8% in the first quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock worth $321,000 after acquiring an additional 2,038 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its position in Global Ship Lease by 6.5% in the second quarter. Redhawk Wealth Advisors Inc. now owns 37,987 shares of the shipping company’s stock worth $1,094,000 after acquiring an additional 2,313 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Global Ship Lease by 10.4% in the first quarter. Janney Montgomery Scott LLC now owns 28,751 shares of the shipping company’s stock worth $584,000 after acquiring an additional 2,703 shares in the last quarter. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on GSL shares. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Jefferies Financial Group restated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday, August 5th. Finally, Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th.

Global Ship Lease Stock Performance

NYSE GSL opened at $23.10 on Friday. The company has a 50-day simple moving average of $26.06 and a two-hundred day simple moving average of $24.57. 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, Inc. has a 12-month low of $16.80 and a 12-month high of $30.32. The firm has a market cap of $812.84 million, a price-to-earnings ratio of 2.61 and a beta of 1.60.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.19. The company had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $172.07 million. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same period last year, the firm earned $2.09 earnings per share. On average, equities analysts forecast that Global Ship Lease, Inc. will post 9.9 EPS for the current year.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 23rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date was Friday, August 23rd. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s dividend payout ratio is currently 16.95%.

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.