Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 61,900 shares of the shipping company’s stock, valued at approximately $1,211,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.17% of Global Ship Lease at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of GSL. BlackRock Inc. grew its stake in Global Ship Lease by 106.3% during the 1st quarter. BlackRock Inc. now owns 6,095 shares of the shipping company’s stock worth $86,000 after buying an additional 3,141 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Global Ship Lease during the 1st quarter worth $1,217,000. Renaissance Technologies LLC boosted its position in Global Ship Lease by 53.6% during the 1st quarter. Renaissance Technologies LLC now owns 818,077 shares of the shipping company’s stock worth $11,535,000 after acquiring an additional 285,600 shares during the period. Occudo Quantitative Strategies LP acquired a new position in Global Ship Lease during the 1st quarter worth $197,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Global Ship Lease during the 1st quarter worth $512,000. Hedge funds and other institutional investors own 57.50% of the company’s stock.
GSL stock opened at $21.90 on Thursday. The business has a fifty day moving average price of $21.79 and a 200 day moving average price of $18.34. The stock has a market capitalization of $794.60 million, a price-to-earnings ratio of 12.59 and a beta of 2.12. Global Ship Lease, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $25.44. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.43 and a quick ratio of 1.38.
The company also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Monday, August 23rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, August 20th. Global Ship Lease’s dividend payout ratio is 53.48%.
A number of brokerages have issued reports on GSL. B. Riley boosted their price target on Global Ship Lease from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, June 18th. TheStreet upgraded Global Ship Lease from a “c” rating to a “b-” rating in a report on Monday, August 16th. Zacks Investment Research downgraded Global Ship Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Global Ship Lease in a research report on Friday, July 16th. They set a “buy” rating and a $23.00 price target on the stock. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $23.00.
Global Ship Lease Profile
Global Ship Lease, Inc is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. It also focuses on the operation and technical management of each vessel, such as crewing, provision of lubricating oils, maintaining the vessel, periodic dry docking, and performing work required by regulations.
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