Global Ship Lease, Inc. (NYSE:GSL) Stock Position Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in Global Ship Lease, Inc. (NYSE:GSL) by 126.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,840 shares of the shipping company’s stock after buying an additional 50,660 shares during the period. Janney Montgomery Scott LLC’s holdings in Global Ship Lease were worth $2,421,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Global Ship Lease during the second quarter worth $2,130,000. Marshall Wace LLP boosted its stake in shares of Global Ship Lease by 275.5% during the 2nd quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after buying an additional 783,963 shares during the last quarter. Sei Investments Co. lifted its stake in Global Ship Lease by 780.1% in the second quarter. Sei Investments Co. now owns 103,658 shares of the shipping company’s stock valued at $2,984,000 after acquiring an additional 91,880 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Global Ship Lease in the 2nd quarter valued at $1,980,000. Finally, Donald Smith & CO. Inc. grew its position in shares of Global Ship Lease by 14.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company’s stock valued at $49,503,000 after purchasing an additional 229,623 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors.

Global Ship Lease Stock Performance

Global Ship Lease stock opened at $23.26 on Tuesday. The firm has a fifty day simple moving average of $24.58 and a two-hundred day simple moving average of $25.94. Global Ship Lease, Inc. has a twelve month low of $17.00 and a twelve month high of $30.32. The company has a market capitalization of $857.41 million, a PE ratio of 2.54 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Wall Street Analysts Forecast Growth

GSL has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a report on Monday. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th.

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.