Dynamic Technology Lab Private Ltd Acquires 3,377 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Dynamic Technology Lab Private Ltd boosted its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 12.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,992 shares of the shipping company’s stock after acquiring an additional 3,377 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.08% of Global Ship Lease worth $826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GSL. Acadian Asset Management LLC boosted its holdings in shares of Global Ship Lease by 3,779.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,508,898 shares of the shipping company’s stock worth $43,406,000 after purchasing an additional 1,470,002 shares during the period. Marshall Wace LLP lifted its position in Global Ship Lease by 275.5% in the second quarter. Marshall Wace LLP now owns 1,068,524 shares of the shipping company’s stock worth $30,763,000 after buying an additional 783,963 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Global Ship Lease by 147.1% during the third quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after buying an additional 301,280 shares during the period. Renaissance Technologies LLC increased its position in Global Ship Lease by 97.9% during the second quarter. Renaissance Technologies LLC now owns 557,050 shares of the shipping company’s stock valued at $16,037,000 after acquiring an additional 275,500 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in shares of Global Ship Lease by 14.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company’s stock valued at $49,503,000 after acquiring an additional 229,623 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research note on Monday, November 11th. StockNews.com lowered Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research note on Thursday, November 14th.

Global Ship Lease Stock Down 0.3 %

NYSE:GSL opened at $21.53 on Thursday. The stock has a fifty day simple moving average of $24.36 and a 200-day simple moving average of $25.90. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 0.38. The company has a market cap of $793.41 million, a price-to-earnings ratio of 2.38 and a beta of 1.62. Global Ship Lease, Inc. has a twelve month low of $17.69 and a twelve month high of $30.32.

Global Ship Lease (NYSE:GSL) last released its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $175.83 million. Global Ship Lease had a net margin of 46.38% and a return on equity of 27.88%. During the same period in the previous year, the company earned $2.33 EPS. Analysts anticipate that Global Ship Lease, Inc. will post 9.85 EPS for the current year.

Global Ship Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Friday, November 22nd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 annualized dividend and a yield of 8.36%. Global Ship Lease’s dividend payout ratio (DPR) is currently 19.93%.

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.