Global Ship Lease (NYSE:GSL) Rating Increased to Strong-Buy at StockNews.com

Global Ship Lease (NYSE:GSL) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Other analysts have also recently issued reports about the stock. Clarkson Capital cut shares of Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Thursday, November 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research report on Monday, November 11th.

Global Ship Lease Trading Down 1.4 %

GSL stock traded down $0.31 during midday trading on Tuesday, reaching $21.97. 404,797 shares of the company’s stock traded hands, compared to its average volume of 321,861. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. Global Ship Lease has a fifty-two week low of $18.75 and a fifty-two week high of $30.32. The business has a 50-day moving average price of $21.92 and a two-hundred day moving average price of $23.43. The company has a market capitalization of $809.63 million, a P/E ratio of 2.43 and a beta of 1.53.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSL. International Assets Investment Management LLC purchased a new position in Global Ship Lease in the 3rd quarter valued at about $477,000. Ballentine Partners LLC purchased a new position in Global Ship Lease in the third quarter valued at about $213,000. Donald Smith & CO. Inc. boosted its holdings in Global Ship Lease by 14.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company’s stock valued at $49,503,000 after purchasing an additional 229,623 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Global Ship Lease by 126.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock valued at $2,421,000 after purchasing an additional 50,660 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Global Ship Lease by 147.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after purchasing an additional 301,280 shares during the last quarter. Hedge funds and other institutional investors own 50.08% of the company’s stock.

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.