Donald Smith & CO. Inc. Purchases 1,281,941 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Donald Smith & CO. Inc. increased its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 69.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,139,470 shares of the shipping company’s stock after purchasing an additional 1,281,941 shares during the period. Global Ship Lease accounts for 1.6% of Donald Smith & CO. Inc.’s portfolio, making the stock its 27th largest holding. Donald Smith & CO. Inc. owned 0.09% of Global Ship Lease worth $68,535,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its holdings in Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 1,577 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Global Ship Lease during the fourth quarter worth about $37,000. Steward Partners Investment Advisory LLC bought a new stake in Global Ship Lease during the 4th quarter valued at approximately $46,000. R Squared Ltd purchased a new position in Global Ship Lease in the 4th quarter worth approximately $50,000. Finally, Quarry LP lifted its holdings in Global Ship Lease by 75.0% in the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after purchasing an additional 1,498 shares in the last quarter. Institutional investors own 50.08% of the company’s stock.

Wall Street Analyst Weigh In

GSL has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Wednesday, March 5th. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Finally, 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.

Global Ship Lease Stock Performance

NYSE:GSL opened at $23.13 on Thursday. The company has a market cap of $819.89 million, a price-to-earnings ratio of 2.56 and a beta of 1.47. Global Ship Lease, Inc. has a 1 year low of $20.35 and a 1 year high of $30.32. The stock’s 50 day simple moving average is $22.48 and its two-hundred day simple moving average is $23.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease (NYSE:GSL) last posted its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The firm had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. As a group, equities analysts anticipate 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease’s dividend payout ratio (DPR) is 18.50%.

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.