BluePath Capital Management LLC Buys Shares of 27,521 Global Ship Lease, Inc. (NYSE:GSL)

BluePath Capital Management LLC bought a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL) during the 1st quarter, Holdings Channel.com reports. The fund bought 27,521 shares of the shipping company’s stock, valued at approximately $559,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its position in shares of Global Ship Lease by 235.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock worth $31,002,000 after purchasing an additional 1,098,558 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Global Ship Lease in the 4th quarter worth $21,588,000. BNP Paribas Financial Markets boosted its position in shares of Global Ship Lease by 287.1% in the 4th quarter. BNP Paribas Financial Markets now owns 94,823 shares of the shipping company’s stock worth $1,879,000 after purchasing an additional 70,329 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Global Ship Lease in the 4th quarter worth $1,261,000. Finally, ARGA Investment Management LP acquired a new stake in shares of Global Ship Lease in the 1st quarter worth $1,227,000. Institutional investors own 50.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GSL. StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group boosted their price target on Global Ship Lease from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, May 16th.

Global Ship Lease Stock Performance

Shares of GSL stock traded up $0.21 on Wednesday, hitting $29.17. The company had a trading volume of 175,023 shares, compared to its average volume of 682,623. The firm has a market cap of $1.03 billion, a P/E ratio of 3.30 and a beta of 1.64. The company has a 50-day moving average price of $27.17 and a 200-day moving average price of $22.83. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. Global Ship Lease, Inc. has a twelve month low of $16.80 and a twelve month high of $30.32.

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

Global Ship Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 24th were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.50 dividend on an annualized basis and a yield of 5.14%. Global Ship Lease’s payout ratio is 16.95%.

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.