Global Ship Lease (NYSE:GSL) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Global Ship Lease (NYSE:GSL) from a buy rating to a strong-buy rating in a research report released on Tuesday.

A number of other equities research analysts have also recently issued reports on GSL. Jefferies Financial Group restated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research note on Monday, November 11th. Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research report on Thursday, November 14th.

Global Ship Lease Trading Down 1.4 %

Shares of Global Ship Lease stock opened at $21.97 on Tuesday. Global Ship Lease has a 52-week low of $18.75 and a 52-week high of $30.32. The stock’s 50-day simple moving average is $21.93 and its 200 day simple moving average is $23.40. The stock has a market capitalization of $809.63 million, a P/E ratio of 2.43 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64.

Global Ship Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend is Monday, February 24th. Global Ship Lease’s dividend payout ratio is presently 19.93%.

Institutional Investors Weigh In On Global Ship Lease

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Novem Group bought a new stake in shares of Global Ship Lease during the fourth quarter valued at about $768,000. Whitefort Capital Management LP increased its position in shares of Global Ship Lease by 0.8% in the fourth quarter. Whitefort Capital Management LP now owns 369,768 shares of the shipping company’s stock worth $8,072,000 after purchasing an additional 2,997 shares during the last quarter. Vident Advisory LLC increased its position in shares of Global Ship Lease by 23.5% in the fourth quarter. Vident Advisory LLC now owns 42,522 shares of the shipping company’s stock worth $928,000 after purchasing an additional 8,098 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Global Ship Lease by 18.2% in the fourth quarter. Janus Henderson Group PLC now owns 54,594 shares of the shipping company’s stock worth $1,192,000 after purchasing an additional 8,415 shares during the last quarter. Finally, CastleKnight Management LP increased its position in shares of Global Ship Lease by 61.5% in the fourth quarter. CastleKnight Management LP now owns 95,431 shares of the shipping company’s stock worth $2,083,000 after purchasing an additional 36,331 shares during the last quarter. 50.08% of the stock is currently owned by institutional investors.

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.