Crescent Grove Advisors LLC Increases Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Crescent Grove Advisors LLC increased its position in Global Ship Lease, Inc. (NYSE:GSL) by 215.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,789 shares of the shipping company’s stock after acquiring an additional 20,349 shares during the period. Crescent Grove Advisors LLC owned about 0.08% of Global Ship Lease worth $650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GSL. Harbor Capital Advisors Inc. grew its stake 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 valued at $13,487,000 after acquiring an additional 301,280 shares during the period. Donald Smith & CO. Inc. lifted its position in shares of 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 valued at $49,503,000 after acquiring an additional 229,623 shares in the last quarter. Foundry Partners LLC raised its stake in Global Ship Lease by 45.2% during the 3rd quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after purchasing an additional 148,247 shares during the period. Moran Wealth Management LLC purchased a new position in shares of Global Ship Lease in the third quarter worth $2,894,000. Finally, Sei Investments Co. grew its stake in Global Ship Lease by 780.1% during the second quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock valued at $2,984,000 after acquiring an additional 91,880 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Down 1.5 %

Shares of GSL opened at $21.11 on Friday. Global Ship Lease, Inc. has a twelve month low of $18.75 and a twelve month high of $30.32. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $21.96 and its 200-day simple moving average is $24.01. The company has a market cap of $778.19 million, a P/E ratio of 2.34 and a beta of 1.55.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $174.06 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $2.33 earnings per share. As a group, analysts expect that Global Ship Lease, Inc. will post 9.79 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Friday, November 22nd were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 8.53%. Global Ship Lease’s payout ratio is 19.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GSL shares. Clarkson Capital lowered Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research report on Thursday, November 14th. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a report on Monday, November 11th.

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.