Janney Montgomery Scott LLC Increases Stake in Global Ship Lease, Inc. (NYSE:GSL)

Janney Montgomery Scott LLC increased its position in Global Ship Lease, Inc. (NYSE:GSL – Free Report) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The company owned 28,751 shares of the shipping company after buying an additional 2,703 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Global Ship Lease worth $584,000, according to its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GSL recently. Donald Smith & CO. Inc. increased its position in Global Ship Lease by 235.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,564,165 shares of the shipping company’s stock worth $31,002,000 after purchasing an additional 1,098,558 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Global Ship Lease during the fourth quarter worth approximately $21,588,000. BNP Paribas Financial Markets increased its position in shares of Global Ship Lease by 287.1% during the fourth quarter. BNP Paribas Financial Markets now owns 94,823 shares of the shipping company’s stock worth $1,879,000 after purchasing an additional 70,329 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Global Ship Lease during the fourth quarter worth approximately $1,261,000. Finally, ARGA Investment Management LP purchased a new position in shares of Global Ship Lease during the first quarter worth approximately $1,227,000. 50.08% of the shares are held by hedge funds and other institutional investors.

Global price development of ship leasing

NYSE GSL opened at $24.77 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.18 and a current ratio of 1.24. The company’s 50-day moving average price is $27.95 and its 200-day moving average price is $23.39. Global Ship Lease, Inc. has a 52-week low of $16.80 and a 52-week high of $30.32. The company has a market cap of $871.66 million, a PE ratio of 2.80 and a beta of 1.64.

Global Ship Lease (NYSE:GSL – Get Free Report) last released its quarterly earnings results on Thursday, May 16. The shipping company reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.19. Global Ship Lease had a net margin of 46.30% and a return on equity of 29.44%. The company had revenue of $179.56 million for the quarter, compared to the consensus estimate of $170.70 million. Sell-side analysts predict that Global Ship Lease, Inc. will post 9.61 EPS for the current fiscal year.

Announcement of dividend for global ship leasing

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 24th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, May 23rd. This represents a dividend of $1.50 on an annualized basis and a dividend yield of 6.06%. Global Ship Lease’s dividend payout ratio is currently 16.95%.

Changes in analyst ratings

A number of equities analysts have recently commented on GSL stock. StockNews.com raised shares of Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group raised their price target on shares of Global Ship Lease from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th.

View our latest research report on GSL

Global Ship Leasing Company Profile

(Free Report)

Global Ship Lease, Inc., together with its subsidiaries, is engaged in owning and chartering container vessels under fixed rate charters to container shipping lines worldwide. As of March 11, 2024, it owned 68 medium and smaller container vessels ranging from 2,207 to 11,040 twenty-foot equivalent units (TEU), with a total capacity of 375,406 TEU.

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