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

StockNews.com upgraded shares of Global Ship Lease (NYSE:GSL) from a buy rating to a strong-buy rating in a report released on Tuesday morning.

A number of other analysts have also commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. Clarkson Capital lowered Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a research note on Thursday, November 14th.

Global Ship Lease Stock Performance

NYSE:GSL opened at $21.97 on Tuesday. The firm has a market cap of $809.63 million, a PE ratio of 2.43 and a beta of 1.53. Global Ship Lease has a fifty-two week low of $18.75 and a fifty-two week high of $30.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The business has a 50 day moving average price of $21.93 and a 200-day moving average price of $23.40.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.19%. The ex-dividend date is Monday, February 24th. Global Ship Lease’s payout ratio is 19.93%.

Hedge Funds Weigh In On Global Ship Lease

A number of institutional investors have recently added to or reduced their stakes in the company. Moors & Cabot Inc. raised its holdings in Global Ship Lease by 2.2% in the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock worth $883,000 after purchasing an additional 700 shares in the last quarter. WealthCollab LLC raised its holdings in Global Ship Lease by 64.1% in the fourth quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock worth $57,000 after purchasing an additional 1,021 shares in the last quarter. Isthmus Partners LLC raised its holdings in 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 purchasing an additional 1,460 shares in the last quarter. Quarry LP raised its holdings in Global Ship Lease by 75.0% in the third quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after purchasing an additional 1,498 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Global Ship Lease by 6,856.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,577 shares in the last quarter. Institutional investors own 50.08% of the company’s stock.

About Global Ship Lease

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.