Global Ship Lease (NYSE:GSL) Shares Gap Down to $29.22

Global Ship Lease, Inc. (NYSE:GSL)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $29.22, but opened at $28.30. Global Ship Lease shares last traded at $28.07, with a volume of 139,423 shares.

Wall Street Analyst Weigh In

GSL has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on Global Ship Lease from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, May 16th. StockNews.com raised shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st.

Global Ship Lease Stock Performance

The firm has a market cap of $996.93 million, a PE ratio of 3.30 and a beta of 1.64. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $24.60 and a two-hundred day simple moving average of $21.59.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Thursday, May 16th. The shipping company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.19. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. The company had revenue of $179.56 million for the quarter, compared to the consensus estimate of $170.70 million. As a group, equities research analysts forecast that Global Ship Lease, Inc. will post 9.61 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 24th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.50 annualized dividend and a dividend yield of 5.29%. Global Ship Lease’s payout ratio is 16.95%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Whittier Trust Co. bought a new stake in shares of Global Ship Lease during the 4th quarter valued at $40,000. Signaturefd LLC increased its holdings in Global Ship Lease by 87.6% during the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after acquiring an additional 945 shares during the period. Quadrant Capital Group LLC increased its holdings in Global Ship Lease by 150.2% during the 4th quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock worth $142,000 after acquiring an additional 4,314 shares during the period. Clear Street Markets LLC purchased a new stake in Global Ship Lease in the 4th quarter worth approximately $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Global Ship Lease in the 4th quarter valued at $201,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Company 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.