Nicholas Wealth LLC. Increases Position in Global Ship Lease, Inc. $GSL

Nicholas Wealth LLC. boosted its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,512 shares of the shipping company’s stock after purchasing an additional 7,851 shares during the quarter. Nicholas Wealth LLC. owned approximately 0.13% of Global Ship Lease worth $1,197,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GSL. TD Waterhouse Canada Inc. purchased a new position in shares of Global Ship Lease during the 2nd quarter valued at approximately $85,000. Intrua Financial LLC purchased a new position in Global Ship Lease during the second quarter valued at $218,000. Samalin Investment Counsel LLC grew its position in shares of Global Ship Lease by 3.1% in the second quarter. Samalin Investment Counsel LLC now owns 28,569 shares of the shipping company’s stock valued at $752,000 after purchasing an additional 868 shares during the period. Allworth Financial LP grew its position in shares of Global Ship Lease by 6,605.4% in the second quarter. Allworth Financial LP now owns 2,481 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 2,444 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Global Ship Lease by 7.3% during the second quarter. Acadian Asset Management LLC now owns 1,305,109 shares of the shipping company’s stock worth $34,314,000 after purchasing an additional 89,258 shares in the last quarter. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Price Performance

GSL stock opened at $35.20 on Wednesday. Global Ship Lease, Inc. has a 1 year low of $17.73 and a 1 year high of $35.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. The firm has a market capitalization of $1.26 billion, a PE ratio of 3.27 and a beta of 1.20. The business has a 50 day simple moving average of $30.95 and a 200-day simple moving average of $28.59.

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

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, November 21st will be issued a $0.625 dividend. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.55. This represents a $2.50 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, November 21st. Global Ship Lease’s payout ratio is currently 22.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GSL shares. Wall Street Zen upgraded Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Zacks Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. 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, November 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a report on Wednesday, October 8th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price 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.