MQS Management LLC Makes New Investment in Global Ship Lease, Inc. (NYSE:GSL)

MQS Management LLC acquired a new position in Global Ship Lease, Inc. (NYSE:GSL) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,477 shares of the shipping company’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors have also modified their holdings of GSL. Donald Smith & CO. Inc. boosted its position in Global Ship Lease by 235.9% during 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 during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Global Ship Lease in the fourth quarter worth about $21,588,000. BNP Paribas Financial Markets grew its stake in shares of Global Ship Lease by 287.1% in the fourth quarter. BNP Paribas Financial Markets now owns 94,823 shares of the shipping company’s stock valued at $1,879,000 after buying an additional 70,329 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Global Ship Lease during the 4th quarter valued at about $1,261,000. Finally, ARGA Investment Management LP acquired a new position in Global Ship Lease during the 1st quarter worth approximately $1,227,000. 50.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on GSL. Jefferies Financial Group upped their price objective on shares of Global Ship Lease from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Global Ship Lease Stock Performance

Shares of NYSE GSL traded up $0.21 during mid-day trading on Friday, hitting $25.34. The company had a trading volume of 252,808 shares, compared to its average volume of 660,774. Global Ship Lease, Inc. has a 12 month low of $16.80 and a 12 month high of $30.32. The stock has a market cap of $891.71 million, a price-to-earnings ratio of 2.84 and a beta of 1.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 1.18. The firm’s 50 day simple moving average is $27.96 and its two-hundred day simple moving average is $23.50.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Thursday, May 16th. The shipping company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.19. The firm had revenue of $179.56 million for the quarter, compared to the consensus estimate of $170.70 million. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. As a group, equities research analysts forecast that Global Ship Lease, Inc. will post 9.52 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 24th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.92%. Global Ship Lease’s dividend payout ratio is presently 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.