Short Interest in Global Ship Lease, Inc. (NYSE:GSL) Grows By 26.9%

Global Ship Lease, Inc. (NYSE:GSL) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 889,200 shares, an increase of 26.9% from the February 13th total of 700,700 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 362,400 shares, the short-interest ratio is presently 2.5 days.

Global Ship Lease Price Performance

Shares of GSL stock traded down $0.31 during trading hours on Monday, hitting $22.94. The company’s stock had a trading volume of 461,067 shares, compared to its average volume of 445,277. The business has a fifty day moving average of $22.15 and a 200-day moving average of $23.05. The stock has a market cap of $845.65 million, a price-to-earnings ratio of 2.54 and a beta of 1.47. Global Ship Lease has a twelve month low of $19.22 and a twelve month high of $30.32. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38.

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

Global Ship Lease Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 7.85%. Global Ship Lease’s dividend payout ratio is presently 18.50%.

Wall Street Analyst Weigh In

GSL has been the subject of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research note on Wednesday, March 5th. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th.

Institutional Trading of Global Ship Lease

Institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. boosted its position in Global Ship Lease by 2.2% during the 3rd quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock worth $883,000 after purchasing an additional 700 shares during the period. Moran Wealth Management LLC acquired a new stake in shares of Global Ship Lease in the 3rd quarter valued at about $2,894,000. Foundry Partners LLC raised its stake in shares of Global Ship Lease by 45.2% in the 3rd quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after purchasing an additional 148,247 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Global Ship Lease by 12.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 30,992 shares of the shipping company’s stock valued at $826,000 after buying an additional 3,377 shares during the last quarter. Finally, Centiva Capital LP grew its position in shares of Global Ship Lease by 87.7% during the 3rd quarter. Centiva Capital LP now owns 26,447 shares of the shipping company’s stock valued at $705,000 after buying an additional 12,354 shares during the last quarter. 50.08% of the stock is owned by hedge funds and other institutional investors.

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.