Trexquant Investment LP Boosts Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Trexquant Investment LP raised its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 46.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 183,684 shares of the shipping company’s stock after acquiring an additional 58,470 shares during the period. Trexquant Investment LP’s holdings in Global Ship Lease were worth $4,010,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC grew its holdings in Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after acquiring an additional 1,577 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Global Ship Lease in the 4th quarter worth approximately $37,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Global Ship Lease during the 4th quarter worth approximately $46,000. R Squared Ltd purchased a new position in shares of Global Ship Lease during the 4th quarter valued at approximately $50,000. Finally, Quarry LP increased its holdings 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 valued at $93,000 after purchasing an additional 1,498 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Clarkson Capital upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $29.00 price target on shares of Global Ship Lease in a research note on Wednesday, March 5th.

Global Ship Lease Trading Down 7.7 %

Shares of NYSE:GSL opened at $19.26 on Friday. The business’s 50 day moving average price is $22.44 and its 200-day moving average price is $22.94. Global Ship Lease, Inc. has a 1 year low of $18.96 and a 1 year high of $30.32. The firm has a market capitalization of $682.71 million, a price-to-earnings ratio of 2.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease (NYSE:GSL) last posted 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 business had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. On average, equities research analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 9.35%. The ex-dividend date was Monday, February 24th. Global Ship Lease’s payout ratio is 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.