Y Intercept Hong Kong Ltd Purchases 5,402 Shares of Global Ship Lease, Inc. $GSL

Y Intercept Hong Kong Ltd lifted its position in Global Ship Lease, Inc. (NYSE:GSL) by 60.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,347 shares of the shipping company’s stock after buying an additional 5,402 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Global Ship Lease were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in Global Ship Lease in the 2nd quarter worth $26,000. SVB Wealth LLC bought a new position in shares of Global Ship Lease in the first quarter worth about $33,000. SBI Securities Co. Ltd. lifted its position in shares of Global Ship Lease by 41.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,430 shares of the shipping company’s stock worth $56,000 after purchasing an additional 717 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Global Ship Lease during the 2nd quarter valued at approximately $72,000. Finally, U S Global Investors Inc. bought a new stake in Global Ship Lease during the 2nd quarter valued at approximately $173,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GSL has been the topic of several recent analyst reports. Zacks Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Jefferies Financial Group restated a “buy” rating and issued a $33.00 price objective on shares of Global Ship Lease in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $30.50.

Global Ship Lease Price Performance

Shares of NYSE:GSL opened at $31.67 on Friday. The firm has a market capitalization of $1.13 billion, a PE ratio of 2.94 and a beta of 1.20. The company has a current ratio of 2.01, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. Global Ship Lease, Inc. has a 1-year low of $17.73 and a 1-year high of $33.08. The business’s 50 day moving average is $30.45 and its 200-day moving average is $27.84.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Tuesday, August 5th. The shipping company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.15 by $0.52. Global Ship Lease had a return on equity of 24.81% and a net margin of 53.09%.The firm had revenue of $191.86 million during the quarter, compared to analysts’ expectations of $177.98 million. Sell-side analysts predict that Global Ship Lease, Inc. will post 9.74 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, October 1st. Stockholders of record on Wednesday, September 24th were issued a dividend of $0.5469 per share. This represents a $2.19 dividend on an annualized basis and a dividend yield of 6.9%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.53. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.50%.

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.