Short Interest in Global Ship Lease, Inc. (NYSE:GSL) Increases By 7.0%

Global Ship Lease, Inc. (NYSE:GSL – Get Rating) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 3,200,000 shares, a growth of 7.0% from the February 13th total of 2,990,000 shares. Based on an average daily volume of 558,800 shares, the days-to-cover ratio is currently 5.7 days. Approximately 9.4% of the company’s stock are short sold.

Hedge Funds Weigh In On Global Ship Lease

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in Global Ship Lease by 153.4% in the 3rd quarter. US Bancorp DE now owns 7,438 shares of the shipping company’s stock worth $118,000 after acquiring an additional 4,503 shares during the last quarter. Hall Private Wealth Advisors raised its stake in shares of Global Ship Lease by 9.9% during the 3rd quarter. Hall Private Wealth Advisors now owns 169,913 shares of the shipping company’s stock valued at $2,681,000 after buying an additional 15,367 shares during the last quarter. CastleKnight Management LP raised its stake in shares of Global Ship Lease by 26.1% during the 2nd quarter. CastleKnight Management LP now owns 166,100 shares of the shipping company’s stock valued at $2,744,000 after buying an additional 34,400 shares during the last quarter. Virtu Financial LLC raised its stake in shares of Global Ship Lease by 25.4% during the 3rd quarter. Virtu Financial LLC now owns 34,208 shares of the shipping company’s stock valued at $540,000 after buying an additional 6,932 shares during the last quarter. Finally, Foundry Partners LLC raised its stake in shares of Global Ship Lease by 1.9% during the 3rd quarter. Foundry Partners LLC now owns 234,685 shares of the shipping company’s stock valued at $3,703,000 after buying an additional 4,375 shares during the last quarter. Hedge funds and other institutional investors own 45.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com assumed coverage on Global Ship Lease in a research report on Thursday. They issued a “buy” rating for the company. Jefferies Financial Group reissued a “buy” rating and issued a $25.00 price objective on shares of Global Ship Lease in a research report on Wednesday, March 1st. Finally, TheStreet raised Global Ship Lease from a “c+” rating to a “b-” rating in a research report on Friday, January 13th.

Global Ship Lease Stock Down 3.7 %

Global Ship Lease stock opened at $18.34 on Friday. The stock has a market capitalization of $673.63 million, a price-to-earnings ratio of 2.33 and a beta of 1.68. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.91 and a quick ratio of 0.86. The business has a fifty day moving average price of $18.92 and a 200-day moving average price of $17.86. Global Ship Lease has a 1-year low of $14.62 and a 1-year high of $30.02.

Global Ship Lease Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 6th. Investors of record on Wednesday, February 22nd were paid a $0.375 dividend. The ex-dividend date was Tuesday, February 21st. This represents a $1.50 dividend on an annualized basis and a yield of 8.18%. Global Ship Lease’s dividend payout ratio (DPR) is 19.04%.

Global Ship Lease Company Profile

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Global Ship Lease, Inc is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. It also focuses on the operation and technical management of each vessel, such as crewing, provision of lubricating oils, maintaining the vessel, periodic dry docking, and performing work required by regulations.