U S Global Investors Inc. Invests $150,000 in Global Ship Lease, Inc. (NYSE:GSL)

U S Global Investors Inc. bought a new stake in Global Ship Lease, Inc. (NYSE:GSL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,638 shares of the shipping company’s stock, valued at approximately $150,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its stake in Global Ship Lease by 62.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after acquiring an additional 969,536 shares during the last quarter. Whitefort Capital Management LP increased its position in shares of Global Ship Lease by 4.2% in the 1st quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock valued at $40,138,000 after buying an additional 79,743 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Global Ship Lease by 3,779.3% during the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after acquiring an additional 1,470,002 shares in the last quarter. Marshall Wace LLP lifted its holdings in Global Ship Lease by 275.5% during the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after acquiring an additional 783,963 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Global Ship Lease by 97.9% in the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock worth $16,037,000 after acquiring an additional 275,500 shares in the last quarter. Institutional investors own 50.08% of the company’s stock.

Wall Street Analyst Weigh In

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

Global Ship Lease Stock Down 0.8 %

Global Ship Lease stock traded down $0.20 during mid-day trading on Tuesday, reaching $24.63. The company’s stock had a trading volume of 17,676 shares, compared to its average volume of 571,566. The company has a market capitalization of $866.68 million, a price-to-earnings ratio of 2.80 and a beta of 1.60. Global Ship Lease, Inc. has a 12 month low of $16.80 and a 12 month high of $30.32. The business’s 50 day simple moving average is $25.13 and its 200 day simple moving average is $25.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.42.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.19. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $2.09 earnings per share. As a group, research analysts anticipate that Global Ship Lease, Inc. will post 9.9 earnings per share 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 given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.80 dividend on an annualized basis and a yield of 7.31%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s dividend payout ratio (DPR) is 16.95%.

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.