Susquehanna Portfolio Strategies LLC Sells 2,721 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Susquehanna Portfolio Strategies LLC cut its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,973 shares of the shipping company’s stock after selling 2,721 shares during the period. Susquehanna Portfolio Strategies LLC owned about 0.07% of Global Ship Lease worth $527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. purchased a new stake in shares of Global Ship Lease during the 4th quarter valued at $40,000. Signaturefd LLC raised its position in Global Ship Lease by 87.6% in the fourth quarter. Signaturefd LLC now owns 2,024 shares of the shipping company’s stock worth $40,000 after acquiring an additional 945 shares during the period. Quadrant Capital Group LLC raised its position in Global Ship Lease by 150.2% in the fourth quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock worth $142,000 after acquiring an additional 4,314 shares during the period. Clear Street Markets LLC purchased a new position in Global Ship Lease in the fourth quarter valued at about $172,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Global Ship Lease during the 4th quarter valued at approximately $201,000. 50.08% of the stock is owned by hedge funds and other institutional investors.

Global Ship Lease Stock Performance

Shares of NYSE GSL traded up $0.40 during midday trading on Monday, hitting $26.20. The company’s stock had a trading volume of 102,544 shares, compared to its average volume of 671,757. The stock has a fifty day moving average price of $27.77 and a 200 day moving average price of $23.22. The firm has a market capitalization of $921.98 million, a price-to-earnings ratio of 2.93 and a beta of 1.64. Global Ship Lease, Inc. has a one year low of $16.80 and a one year high of $30.32. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.46.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Thursday, May 16th. The shipping company reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.19. Global Ship Lease had a return on equity of 29.44% and a net margin of 46.30%. The company had revenue of $179.56 million for the quarter, compared to analyst estimates of $170.70 million. On average, research analysts forecast that Global Ship Lease, Inc. will post 9.61 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 24th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.73%. Global Ship Lease’s dividend payout ratio (DPR) is currently 16.95%.

Wall Street Analysts Forecast Growth

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

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.