Harbor Capital Advisors Inc. Has $11.35 Million Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Harbor Capital Advisors Inc. increased its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 2.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 519,913 shares of the shipping company’s stock after acquiring an additional 13,828 shares during the period. Harbor Capital Advisors Inc.’s holdings in Global Ship Lease were worth $11,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quarry LP lifted its stake in Global Ship Lease by 75.0% during the third quarter. Quarry LP now owns 3,495 shares of the shipping company’s stock worth $93,000 after purchasing an additional 1,498 shares during the period. Fairscale Capital LLC bought a new position in shares of Global Ship Lease during the 2nd quarter worth approximately $107,000. U S Global Investors Inc. bought a new position in shares of Global Ship Lease during the 3rd quarter worth approximately $150,000. Point72 Hong Kong Ltd acquired a new stake in Global Ship Lease in the 2nd quarter valued at $210,000. Finally, Ballentine Partners LLC bought a new stake in Global Ship Lease in the third quarter valued at $213,000. Institutional investors own 50.08% of the company’s stock.

Analyst Ratings Changes

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

Global Ship Lease Price Performance

NYSE:GSL traded down $0.50 during mid-day trading on Friday, reaching $21.94. 173,762 shares of the company were exchanged, compared to its average volume of 264,935. The company has a quick ratio of 1.58, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The stock has a market cap of $808.75 million, a PE ratio of 2.43 and a beta of 1.55. Global Ship Lease, Inc. has a 12 month low of $18.75 and a 12 month high of $30.32. The company has a fifty day moving average of $22.49 and a 200 day moving average of $24.57.

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

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd were given a dividend of $0.45 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.20%. Global Ship Lease’s payout ratio is currently 19.93%.

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.