Global Ship Lease, Inc. $GSL Shares Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. increased its position in Global Ship Lease, Inc. (NYSE:GSL) by 0.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,238,868 shares of the shipping company’s stock after acquiring an additional 18,783 shares during the period. Global Ship Lease makes up about 2.0% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 22nd largest position. Donald Smith & CO. Inc. owned approximately 0.09% of Global Ship Lease worth $85,215,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new stake in Global Ship Lease during the second quarter valued at about $68,680,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Global Ship Lease in the 1st quarter worth approximately $13,304,000. CSM Advisors LLC bought a new stake in shares of Global Ship Lease during the 2nd quarter worth $11,057,000. Acadian Asset Management LLC boosted its position in shares of Global Ship Lease by 7.3% in the second quarter. Acadian Asset Management LLC now owns 1,305,109 shares of the shipping company’s stock valued at $34,314,000 after acquiring an additional 89,258 shares during the period. Finally, Commons Capital LLC grew its stake in shares of Global Ship Lease by 244.0% in the second quarter. Commons Capital LLC now owns 86,000 shares of the shipping company’s stock worth $2,263,000 after acquiring an additional 61,000 shares during the last quarter. 50.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on GSL shares. Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Global Ship Lease in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on Global Ship Lease from $33.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Zacks Research upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $33.50.

Global Ship Lease Stock Performance

NYSE GSL opened at $36.22 on Friday. Global Ship Lease, Inc. has a twelve month low of $17.73 and a twelve month high of $36.67. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34. The company’s 50-day simple moving average is $31.74 and its 200 day simple moving average is $29.60. The stock has a market cap of $1.30 billion, a P/E ratio of 3.25 and a beta of 0.98.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Wednesday, November 12th. The shipping company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.35. Global Ship Lease had a return on equity of 23.98% and a net margin of 53.62%.The firm had revenue of $192.67 million for the quarter, compared to analysts’ expectations of $180.36 million. Global Ship Lease’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, research analysts forecast that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Friday, November 21st were given a dividend of $0.625 per share. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, November 21st. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.9%. Global Ship Lease’s dividend payout ratio is 22.44%.

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.