Global Ship Lease, Inc. (NYSE:GSL) Shares Acquired by Magnetar Financial LLC

Magnetar Financial LLC lifted its position in shares of Global Ship Lease, Inc. (NYSE:GSL) by 34.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,260 shares of the shipping company’s stock after purchasing an additional 3,658 shares during the period. Magnetar Financial LLC’s holdings in Global Ship Lease were worth $311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Global Ship Lease during the third quarter worth about $712,000. DGS Capital Management LLC grew its holdings in shares of Global Ship Lease by 125.1% during the fourth quarter. DGS Capital Management LLC now owns 46,158 shares of the shipping company’s stock worth $1,008,000 after buying an additional 25,651 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Global Ship Lease during the fourth quarter worth about $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of Global Ship Lease during the third quarter worth about $1,441,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Global Ship Lease by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 391,053 shares of the shipping company’s stock worth $10,422,000 after buying an additional 8,890 shares during the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Wall Street Analysts Forecast Growth

GSL has been the topic of a number of research reports. Clarkson Capital raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Jefferies Financial Group reissued a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a report on Wednesday, March 5th. Finally, StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th.

Global Ship Lease Price Performance

Shares of GSL opened at $23.33 on Friday. Global Ship Lease, Inc. has a twelve month low of $19.73 and a twelve month high of $30.32. The stock’s 50 day moving average is $22.25 and its two-hundred day moving average is $23.03. The firm has a market capitalization of $859.81 million, a PE ratio of 2.58 and a beta of 1.47. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The company had revenue of $182.43 million for the quarter, compared to analyst estimates of $170.71 million. Research analysts anticipate that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.72%. The ex-dividend date was Monday, February 24th. Global Ship Lease’s dividend payout ratio (DPR) is 18.50%.

About Global Ship Lease

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.