Global Ship Lease (NYSE:GSL) Shares Gap Down – Time to Sell?

Global Ship Lease, Inc. (NYSE:GSL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $22.85, but opened at $22.24. Global Ship Lease shares last traded at $22.11, with a volume of 104,237 shares trading hands.

Analysts Set New Price Targets

GSL has been the topic of a number of recent research reports. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price for the company. in a report on Thursday, November 14th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th.

Global Ship Lease Stock Up 0.1 %

The stock has a 50-day moving average of $24.55 and a 200-day moving average of $25.94. 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 firm has a market cap of $826.77 million, a price-to-earnings ratio of 2.53 and a beta of 1.62.

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

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.02%. The ex-dividend date is Friday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is currently 16.61%.

Institutional Trading of Global Ship Lease

Several large investors have recently modified their holdings of GSL. Tidal Investments LLC grew its holdings in shares of Global Ship Lease by 14.8% during the 1st quarter. Tidal Investments LLC now owns 15,832 shares of the shipping company’s stock worth $321,000 after purchasing an additional 2,038 shares in the last quarter. Whitefort Capital Management LP grew its holdings in shares of Global Ship Lease by 4.2% during the 1st quarter. Whitefort Capital Management LP now owns 1,977,224 shares of the shipping company’s stock worth $40,138,000 after purchasing an additional 79,743 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Global Ship Lease during the 1st quarter worth $324,000. Mather Group LLC. acquired a new stake in shares of Global Ship Lease during the 2nd quarter worth $88,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Global Ship Lease by 237.7% in the second quarter. Harbor Capital Advisors Inc. now owns 204,805 shares of the shipping company’s stock valued at $5,896,000 after buying an additional 144,161 shares in the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

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.