Metis Global Partners LLC Sells 2,163 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Metis Global Partners LLC cut its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,377 shares of the shipping company’s stock after selling 2,163 shares during the quarter. Metis Global Partners LLC’s holdings in Global Ship Lease were worth $570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Global Ship Lease during the 2nd quarter valued at $2,130,000. Janney Montgomery Scott LLC increased its stake in Global Ship Lease by 126.1% in the third quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock valued at $2,421,000 after purchasing an additional 50,660 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Global Ship Lease by 275.5% during the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock valued at $30,763,000 after purchasing an additional 783,963 shares during the period. Sei Investments Co. boosted its position in shares of Global Ship Lease by 780.1% during the 2nd quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock worth $2,984,000 after purchasing an additional 91,880 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Global Ship Lease by 147.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock valued at $13,487,000 after buying an additional 301,280 shares during the period. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Price Performance

GSL stock opened at $23.65 on Tuesday. The firm has a market capitalization of $871.74 million, a PE ratio of 2.62 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. Global Ship Lease, Inc. has a twelve month low of $17.47 and a twelve month high of $30.32. The stock’s 50 day moving average is $24.55 and its 200-day moving average is $25.97.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $175.83 million. During the same period last year, the business earned $2.33 EPS. Sell-side analysts expect that Global Ship Lease, Inc. will post 9.85 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Friday, November 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.61%.

Wall Street Analysts Forecast Growth

GSL has been the subject of several recent research reports. Clarkson Capital downgraded Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a report on Thursday, November 14th. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research note on Monday, November 11th.

About Global Ship Lease

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.