Global Ship Lease, Inc. (NYSE:GSL) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 780.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,658 shares of the shipping company’s stock after buying an additional 91,880 shares during the quarter. Sei Investments Co.’s holdings in Global Ship Lease were worth $2,984,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its holdings in Global Ship Lease by 21.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,442 shares of the shipping company’s stock valued at $473,000 after acquiring an additional 2,927 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Global Ship Lease by 97.9% in the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after purchasing an additional 275,500 shares during the period. Inspire Advisors LLC lifted its stake in shares of Global Ship Lease by 26.3% in the second quarter. Inspire Advisors LLC now owns 16,853 shares of the shipping company’s stock valued at $485,000 after purchasing an additional 3,512 shares during the period. Acadian Asset Management LLC boosted its holdings in Global Ship Lease by 3,779.3% during the second quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after buying an additional 1,470,002 shares in the last quarter. Finally, Foundry Partners LLC grew its position in Global Ship Lease by 3.9% during the second quarter. Foundry Partners LLC now owns 327,709 shares of the shipping company’s stock worth $9,435,000 after buying an additional 12,241 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GSL. Clarkson Capital raised Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group reiterated a “buy” rating and set a $29.00 target price on shares of Global Ship Lease in a research report on Monday, August 5th. Finally, StockNews.com upgraded Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th.

Global Ship Lease Stock Down 1.2 %

GSL stock opened at $25.99 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.36. Global Ship Lease, Inc. has a 12 month low of $16.80 and a 12 month high of $30.32. The firm has a market capitalization of $914.54 million, a PE ratio of 2.94 and a beta of 1.60. The company’s 50 day simple moving average is $25.41 and its 200-day simple moving average is $25.21.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.19. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $172.07 million. During the same quarter last year, the business posted $2.09 earnings per share. Equities analysts expect that Global Ship Lease, Inc. will post 9.9 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Friday, August 23rd were paid a $0.45 dividend. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.80 annualized dividend and a yield of 6.93%. Global Ship Lease’s payout ratio is presently 16.95%.

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.