International Assets Investment Management LLC Makes New Investment in Global Ship Lease, Inc. (NYSE:GSL)

International Assets Investment Management LLC purchased a new position in Global Ship Lease, Inc. (NYSE:GSL) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 17,882 shares of the shipping company’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Altus Wealth Group LLC boosted its stake in Global Ship Lease by 21.0% in the 3rd quarter. Altus Wealth Group LLC now owns 16,314 shares of the shipping company’s stock worth $435,000 after purchasing an additional 2,834 shares during the period. U S Global Investors Inc. bought a new position in shares of Global Ship Lease during the 3rd quarter valued at approximately $150,000. Blue Trust Inc. boosted its position in shares of Global Ship Lease by 257.8% during the 3rd quarter. Blue Trust Inc. now owns 11,186 shares of the shipping company’s stock valued at $322,000 after acquiring an additional 8,060 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of Global Ship Lease by 6.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 40,578 shares of the shipping company’s stock valued at $1,081,000 after acquiring an additional 2,591 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its position in shares of Global Ship Lease by 3.2% during the 3rd quarter. Simplicity Wealth LLC now owns 16,236 shares of the shipping company’s stock valued at $433,000 after acquiring an additional 505 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GSL has been the subject of a number of research reports. 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. Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th.

Global Ship Lease Stock Up 0.1 %

Shares of GSL opened at $24.22 on Wednesday. The company has a market cap of $892.56 million, a PE ratio of 2.65 and a beta of 1.62. The business has a fifty day moving average of $24.61 and a 200 day moving average of $25.89. Global Ship Lease, Inc. has a 52-week low of $16.80 and a 52-week high of $30.32. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. The company had revenue of $175.00 million during the quarter, compared to the consensus estimate of $172.07 million. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same period last year, the company earned $2.09 earnings per share. On average, sell-side analysts expect that Global Ship Lease, Inc. will post 9.85 EPS for the current year.

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.