Fox Run Management L.L.C. Takes Position in Global Ship Lease, Inc. (NYSE:GSL)

Fox Run Management L.L.C. bought a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 56,720 shares of the shipping company’s stock, valued at approximately $1,238,000. Fox Run Management L.L.C. owned about 0.15% of Global Ship Lease as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Global Ship Lease during the 4th quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC purchased a new stake in Global Ship Lease during the 4th quarter valued at $46,000. R Squared Ltd purchased a new stake in Global Ship Lease during the 4th quarter valued at $50,000. Quarry LP raised its holdings in 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 buying an additional 1,498 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in Global Ship Lease during the 4th quarter valued at $305,000. 50.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GSL has been the topic of several recent research reports. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Jefferies Financial Group restated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a report on Wednesday, March 5th. Finally, Clarkson Capital upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday.

Global Ship Lease Stock Performance

GSL stock opened at $23.33 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $22.25 and its two-hundred day simple moving average is $23.03. Global Ship Lease, Inc. has a twelve month low of $19.73 and a twelve month high of $30.32. The firm has a market cap of $859.81 million, a price-to-earnings ratio of 2.58 and a beta of 1.47.

Global Ship Lease (NYSE:GSL) last released its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The business had revenue of $182.43 million for the quarter, compared to analyst estimates of $170.71 million. Analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared 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 currently 18.50%.

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.