Redhawk Wealth Advisors Inc. Increases Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

Redhawk Wealth Advisors Inc. raised its stake in Global Ship Lease, Inc. (NYSE:GSL) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,578 shares of the shipping company’s stock after buying an additional 2,591 shares during the period. Redhawk Wealth Advisors Inc. owned about 0.12% of Global Ship Lease worth $1,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of Global Ship Lease by 3,779.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after purchasing an additional 1,470,002 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in Global Ship Lease by 62.0% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,533,701 shares of the shipping company’s stock worth $51,434,000 after buying an additional 969,536 shares during the last quarter. Marshall Wace LLP boosted its stake in Global Ship Lease by 275.5% in the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after buying an additional 783,963 shares in the last quarter. Renaissance Technologies LLC grew its position in Global Ship Lease by 97.9% during the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after acquiring an additional 275,500 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Global Ship Lease by 237.7% during the second quarter. Harbor Capital Advisors Inc. now owns 204,805 shares of the shipping company’s stock worth $5,896,000 after acquiring an additional 144,161 shares in the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Stock Down 0.2 %

Shares of NYSE GSL opened at $24.84 on Tuesday. The firm’s fifty day moving average is $25.35 and its 200 day moving average is $25.55. Global Ship Lease, Inc. has a 52 week low of $16.80 and a 52 week high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The company has a market cap of $874.07 million, a price-to-earnings ratio of 2.81 and a beta of 1.60.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.19. The firm had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $172.07 million. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. During the same quarter in the previous year, the company earned $2.09 earnings per share. On average, equities research analysts expect that Global Ship Lease, Inc. will post 9.9 earnings per share for the current year.

Global Ship Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.80 annualized dividend and a yield of 7.25%. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s dividend payout ratio (DPR) is 16.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GSL. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a report on Monday, August 5th. StockNews.com raised Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 11th. Finally, Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th.

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.