Quantbot Technologies LP Lowers Stake in Global Ship Lease, Inc. (NYSE:GSL)

Quantbot Technologies LP cut its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 14.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,600 shares of the shipping company’s stock after selling 7,638 shares during the quarter. Quantbot Technologies LP’s holdings in Global Ship Lease were worth $952,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Magnetar Financial LLC increased its position in Global Ship Lease by 34.5% during the 4th quarter. Magnetar Financial LLC now owns 14,260 shares of the shipping company’s stock worth $311,000 after purchasing an additional 3,658 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Global Ship Lease during the fourth quarter worth approximately $305,000. Isthmus Partners LLC increased its position in shares of Global Ship Lease by 1.3% in the fourth quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company’s stock worth $2,463,000 after acquiring an additional 1,460 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Global Ship Lease in the 4th quarter valued at $633,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Global Ship Lease during the 4th quarter valued at $46,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Price Performance

GSL opened at $23.35 on Wednesday. Global Ship Lease, Inc. has a twelve month low of $19.76 and a twelve month high of $30.32. The firm has a market cap of $860.73 million, a price-to-earnings ratio of 2.59 and a beta of 1.47. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $23.02.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.25. The company had revenue of $182.43 million during the quarter, compared to the consensus estimate of $170.71 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. Equities research analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 7.71%. Global Ship Lease’s payout ratio is currently 18.50%.

Analysts Set New Price Targets

GSL has been the subject of several recent research reports. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Wednesday, March 5th. Finally, Clarkson Capital raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th.

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.