Fox Run Management L.L.C. Sells 4,710 Shares of Global Ship Lease, Inc. $GSL

Fox Run Management L.L.C. lessened its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 26.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,018 shares of the shipping company’s stock after selling 4,710 shares during the period. Fox Run Management L.L.C.’s holdings in Global Ship Lease were worth $343,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new position in Global Ship Lease during the 2nd quarter valued at $68,680,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Global Ship Lease in the first quarter worth about $13,304,000. Donald Smith & CO. Inc. grew its holdings in Global Ship Lease by 2.6% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,220,085 shares of the shipping company’s stock worth $73,579,000 after acquiring an additional 80,615 shares in the last quarter. GSA Capital Partners LLP increased its position in Global Ship Lease by 208.7% during the 1st quarter. GSA Capital Partners LLP now owns 114,989 shares of the shipping company’s stock valued at $2,627,000 after purchasing an additional 77,743 shares during the period. Finally, Commons Capital LLC increased its position in Global Ship Lease by 244.0% during the 2nd quarter. Commons Capital LLC now owns 86,000 shares of the shipping company’s stock valued at $2,263,000 after purchasing an additional 61,000 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Trading Up 0.4%

NYSE GSL opened at $34.36 on Thursday. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $34.81. The company has a 50 day moving average price of $30.70 and a 200 day moving average price of $28.17. The company has a quick ratio of 1.94, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.23 billion, a PE ratio of 3.19 and a beta of 1.20.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, November 10th. The shipping company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.35. The business had revenue of $192.67 million for the quarter, compared to analyst estimates of $180.36 million. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. Global Ship Lease’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be paid a dividend of $0.625 per share. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, November 21st. This represents a $2.50 annualized dividend and a yield of 7.3%. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GSL. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research report on Wednesday, October 8th. Zacks Research upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Wall Street Zen raised Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group boosted their price target on Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.50.

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.