Magnetar Financial LLC Increases Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Magnetar Financial LLC lifted its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 34.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,260 shares of the shipping company’s stock after acquiring an additional 3,658 shares during the quarter. Magnetar Financial LLC’s holdings in Global Ship Lease were worth $311,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Global Ship Lease during the 4th quarter worth approximately $37,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Global Ship Lease during the 4th quarter worth approximately $46,000. R Squared Ltd acquired a new position in shares of Global Ship Lease during the 4th quarter worth approximately $50,000. Quarry LP raised its position in shares of Global Ship Lease by 75.0% during the 3rd quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after purchasing an additional 1,498 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new position in shares of Global Ship Lease during the 4th quarter worth approximately $305,000. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Clarkson Capital upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a report on Wednesday, March 5th. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th.

Global Ship Lease Trading Down 2.3 %

Shares of GSL opened at $23.33 on Friday. The stock has a fifty day moving average of $22.25 and a two-hundred day moving average of $23.03. 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 company has a market capitalization of $859.81 million, a PE ratio of 2.58 and a beta of 1.47. Global Ship Lease, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $30.32.

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

Global Ship Lease Dividend Announcement

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 was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 7.72%. Global Ship Lease’s dividend payout ratio is presently 18.50%.

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.