Balyasny Asset Management L.P. Has $792,000 Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Balyasny Asset Management L.P. lessened its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 43.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,274 shares of the shipping company’s stock after selling 27,834 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Global Ship Lease were worth $792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. CIBC Private Wealth Group LLC boosted its position in shares of Global Ship Lease by 6,856.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,577 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $37,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $46,000. R Squared Ltd acquired a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $50,000. Finally, WealthCollab LLC boosted its position in shares of Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock worth $57,000 after acquiring an additional 1,021 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Stock Up 0.8%

Global Ship Lease stock opened at $24.60 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. Global Ship Lease, Inc. has a 52-week low of $17.73 and a 52-week high of $30.32. The firm has a 50 day moving average price of $21.71 and a two-hundred day moving average price of $22.11. The firm has a market cap of $872.00 million, a price-to-earnings ratio of 2.72 and a beta of 1.10.

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

Global Ship Lease Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 23rd will be given a $0.525 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.10 annualized dividend and a yield of 8.54%. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.45. Global Ship Lease’s dividend payout ratio (DPR) is presently 18.50%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GSL shares. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Wednesday, March 5th. StockNews.com lowered shares of Global Ship Lease from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Clarkson Capital raised shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note 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.