Lonestar Capital Management LLC Purchases New Stake in Global Ship Lease, Inc. $GSL

Lonestar Capital Management LLC acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 200,000 shares of the shipping company’s stock, valued at approximately $5,262,000. Global Ship Lease comprises approximately 2.0% of Lonestar Capital Management LLC’s holdings, making the stock its 9th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Global Ship Lease by 351.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 75,644 shares of the shipping company’s stock worth $1,728,000 after purchasing an additional 58,872 shares during the period. Hsbc Holdings PLC purchased a new stake in Global Ship Lease in the first quarter worth $279,000. Crescent Grove Advisors LLC raised its stake in shares of Global Ship Lease by 75.2% in the second quarter. Crescent Grove Advisors LLC now owns 123,718 shares of the shipping company’s stock valued at $3,255,000 after buying an additional 53,101 shares during the period. LPL Financial LLC raised its stake in shares of Global Ship Lease by 34.8% in the first quarter. LPL Financial LLC now owns 102,897 shares of the shipping company’s stock valued at $2,351,000 after buying an additional 26,542 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of Global Ship Lease during the 1st quarter worth $204,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Trading Down 1.8%

Shares of GSL opened at $33.85 on Friday. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $37.22. The stock has a market cap of $1.21 billion, a PE ratio of 3.04 and a beta of 0.98. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $32.21 and its 200-day moving average price is $29.93.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. Global Ship Lease had a net margin of 53.62% and a return on equity of 23.98%. The firm had revenue of $192.67 million during the quarter, compared to analyst estimates of $180.36 million. Global Ship Lease’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Friday, November 21st were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.50 dividend on an annualized basis and a yield of 7.4%. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.55. Global Ship Lease’s dividend payout ratio is presently 22.44%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GSL. Zacks Research upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Global Ship Lease from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $33.50.

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.