Global Ship Lease, Inc. (NYSE:GSL) Shares Sold by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. cut its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 15.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,266 shares of the shipping company’s stock after selling 6,312 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Global Ship Lease were worth $748,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on GSL. Jefferies Financial Group reissued a “buy” rating and set a $29.00 price target on shares of Global Ship Lease in a research report on Monday, November 11th. StockNews.com downgraded shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Clarkson Capital cut Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research note on Thursday, November 14th.

Global Ship Lease Stock Performance

Shares of Global Ship Lease stock opened at $21.61 on Friday. The business has a 50-day simple moving average of $22.26 and a 200-day simple moving average of $24.31. The company has a market cap of $796.36 million, a PE ratio of 2.39 and a beta of 1.55. Global Ship Lease, Inc. has a one year low of $18.75 and a one year high of $30.32. 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 (NYSE:GSL) last announced its quarterly earnings data on Monday, November 11th. The shipping company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $174.06 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted $2.33 EPS. On average, equities research analysts forecast that Global Ship Lease, Inc. will post 9.79 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, November 22nd. This represents a $1.80 annualized dividend and a dividend yield of 8.33%. Global Ship Lease’s dividend payout ratio is currently 19.93%.

Global Ship Lease 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.