Susquehanna Portfolio Strategies LLC cut its holdings in Global Ship Lease, Inc. (NYSE:GSL – Free Report) 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 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.
Read Our Latest Research Report on GSL
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.
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