Global Ship Lease, Inc. (NYSE:GSL) Short Interest Update

Global Ship Lease, Inc. (NYSE:GSL) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,720,000 shares, a decline of 9.0% from the July 15th total of 1,890,000 shares. Based on an average daily trading volume, of 639,200 shares, the short-interest ratio is presently 2.7 days. Approximately 5.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research note on Monday, August 5th. StockNews.com upgraded shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in Global Ship Lease by 87.6% in the 4th quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after buying an additional 945 shares during the period. Mather Group LLC. bought a new position in shares of Global Ship Lease during the 2nd quarter valued at about $88,000. Blue Trust Inc. boosted its holdings in shares of Global Ship Lease by 2,642.1% during the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock valued at $90,000 after purchasing an additional 3,012 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Global Ship Lease during the 2nd quarter valued at about $107,000. Finally, nVerses Capital LLC boosted its holdings in shares of Global Ship Lease by 355.6% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock valued at $118,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Stock Performance

Shares of NYSE:GSL traded up $0.34 during midday trading on Monday, hitting $27.24. The company had a trading volume of 711,525 shares, compared to its average volume of 645,084. 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 company has a market cap of $958.52 million, a price-to-earnings ratio of 3.04 and a beta of 1.64. Global Ship Lease has a 12-month low of $16.80 and a 12-month high of $30.32. The company has a fifty day moving average of $27.22 and a two-hundred day moving average of $24.14.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.27 by $0.19. The firm had revenue of $175.00 million during the quarter, compared to analyst estimates of $172.07 million. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. During the same period in the prior year, the business posted $2.09 EPS. On average, equities research analysts expect that Global Ship Lease will post 9.52 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 23rd will be issued a $0.45 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.80 annualized dividend and a yield of 6.61%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. Global Ship Lease’s dividend payout ratio is currently 16.95%.

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.