Global Ship Lease, Inc. (NYSE:GSL) Short Interest Up 26.9% in February

Global Ship Lease, Inc. (NYSE:GSL) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 889,200 shares, an increase of 26.9% from the February 13th total of 700,700 shares. Based on an average trading volume of 362,400 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Global Ship Lease

A number of large investors have recently bought and sold shares of GSL. Moors & Cabot Inc. raised its stake in Global Ship Lease by 2.2% in the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock worth $883,000 after buying an additional 700 shares in the last quarter. Moran Wealth Management LLC acquired a new position in shares of Global Ship Lease during the third quarter worth $2,894,000. Foundry Partners LLC increased its position in shares of Global Ship Lease by 45.2% during the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock worth $12,684,000 after purchasing an additional 148,247 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Global Ship Lease by 12.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 30,992 shares of the shipping company’s stock worth $826,000 after purchasing an additional 3,377 shares in the last quarter. Finally, Centiva Capital LP increased its position in shares of Global Ship Lease by 87.7% during the third quarter. Centiva Capital LP now owns 26,447 shares of the shipping company’s stock worth $705,000 after purchasing an additional 12,354 shares in the last quarter. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Stock Up 1.0 %

Shares of NYSE:GSL opened at $23.16 on Wednesday. Global Ship Lease has a 1 year low of $19.22 and a 1 year high of $30.32. The business has a 50 day simple moving average of $22.17 and a two-hundred day simple moving average of $23.03. The firm has a market capitalization of $853.69 million, a PE ratio of 2.56 and a beta of 1.47. 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 Wednesday, March 5th. The shipping company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.25. The business had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. On average, equities analysts predict that Global Ship Lease will post 9.74 EPS for the current year.

Global Ship Lease Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Monday, February 24th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend was Monday, February 24th. Global Ship Lease’s dividend payout ratio (DPR) is 18.50%.

Wall Street Analyst Weigh In

A number of research firms have commented on GSL. StockNews.com cut Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a report on Wednesday, March 5th.

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.