Jump Financial LLC Boosts Stake in Global Ship Lease, Inc. (NYSE:GSL)

Jump Financial LLC grew its stake in Global Ship Lease, Inc. (NYSE:GSL) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,908 shares of the shipping company’s stock after acquiring an additional 6,395 shares during the quarter. Jump Financial LLC’s holdings in Global Ship Lease were worth $1,220,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its holdings in Global Ship Lease by 69.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,139,470 shares of the shipping company’s stock worth $68,535,000 after purchasing an additional 1,281,941 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Global Ship Lease by 34.9% in the fourth quarter. Renaissance Technologies LLC now owns 629,750 shares of the shipping company’s stock valued at $13,747,000 after acquiring an additional 162,900 shares in the last quarter. Trexquant Investment LP grew its holdings in Global Ship Lease by 46.7% in the fourth quarter. Trexquant Investment LP now owns 183,684 shares of the shipping company’s stock worth $4,010,000 after purchasing an additional 58,470 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Global Ship Lease during the fourth quarter worth $1,238,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Global Ship Lease in the 4th quarter worth $633,000. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Global Ship Lease Trading Up 1.8 %

Global Ship Lease stock opened at $20.54 on Monday. The stock has a 50-day moving average price of $21.96 and a 200 day moving average price of $22.45. The company has a market capitalization of $728.15 million, a price-to-earnings ratio of 2.27 and a beta of 1.21. Global Ship Lease, Inc. has a 52 week low of $17.73 and a 52 week high of $30.32. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

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

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a yield of 8.76%. Global Ship Lease’s dividend payout ratio is presently 18.50%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GSL shares. Clarkson Capital raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 19th. Jefferies Financial Group restated a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

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.