DGS Capital Management LLC Increases Holdings in Global Ship Lease, Inc. (NYSE:GSL)

DGS Capital Management LLC raised its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 121.1% in the third quarter, HoldingsChannel reports. The firm owned 20,507 shares of the shipping company’s stock after buying an additional 11,233 shares during the quarter. DGS Capital Management LLC’s holdings in Global Ship Lease were worth $547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in Global Ship Lease by 2,642.1% in the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after purchasing an additional 3,012 shares in the last quarter. Summit Securities Group LLC raised its position in shares of Global Ship Lease by 404.2% in the 2nd quarter. Summit Securities Group LLC now owns 12,100 shares of the shipping company’s stock worth $348,000 after acquiring an additional 9,700 shares in the last quarter. Signaturefd LLC boosted its position in shares of Global Ship Lease by 23.3% during the second quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 477 shares in the last quarter. nVerses Capital LLC grew its position in shares of Global Ship Lease by 355.6% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock worth $118,000 after buying an additional 3,200 shares during the period. Finally, Ritholtz Wealth Management bought a new position in shares of Global Ship Lease in the 2nd quarter worth about $221,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Down 0.5 %

Shares of NYSE:GSL opened at $21.74 on Friday. The stock’s fifty day moving average price is $23.54 and its 200-day moving average price is $25.56. Global Ship Lease, Inc. has a 1 year low of $18.51 and a 1 year high of $30.32. The company has a market cap of $801.34 million, a P/E ratio of 2.41 and a beta of 1.55. 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 announced its earnings results on Monday, November 11th. The shipping company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. The business had revenue of $174.06 million during the quarter, compared to analyst estimates of $175.83 million. During the same period in the previous year, the business earned $2.33 EPS. Sell-side analysts expect that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.28%. The ex-dividend date of this dividend was Friday, November 22nd. Global Ship Lease’s payout ratio is currently 19.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GSL shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research note on Monday, November 11th. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective for the company. in a research note on Thursday, November 14th.

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.