Global Ship Lease (NYSE:GSL) Upgraded at StockNews.com

StockNews.com upgraded shares of Global Ship Lease (NYSE:GSL) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

Other research analysts have also issued research reports about the company. Clarkson Capital lowered Global Ship Lease from a “buy” rating to a “neutral” rating and set a $27.00 target price on the stock. in a report on Thursday, November 14th. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research note on Monday, November 11th.

Global Ship Lease Stock Performance

Shares of GSL stock opened at $22.04 on Tuesday. The stock’s 50-day moving average price is $21.97 and its 200 day moving average price is $23.38. 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 capitalization of $812.25 million, a PE ratio of 2.44 and a beta of 1.53. Global Ship Lease has a 52-week low of $18.75 and a 52-week high of $30.32.

Global Ship Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 8.17%. The ex-dividend date is Monday, February 24th. Global Ship Lease’s payout ratio is 19.93%.

Institutional Trading of Global Ship Lease

A number of institutional investors have recently modified their holdings of the business. Moors & Cabot Inc. raised its position in Global Ship Lease by 2.2% in the third quarter. Moors & Cabot Inc. now owns 33,150 shares of the shipping company’s stock worth $883,000 after acquiring an additional 700 shares in the last quarter. WealthCollab LLC grew its stake in shares of Global Ship Lease by 64.1% during the 4th quarter. WealthCollab LLC now owns 2,615 shares of the shipping company’s stock worth $57,000 after purchasing an additional 1,021 shares during the period. Isthmus Partners LLC lifted its stake in shares of Global Ship Lease by 1.3% in the fourth quarter. Isthmus Partners LLC now owns 112,832 shares of the shipping company’s stock valued at $2,463,000 after purchasing an additional 1,460 shares during the period. Quarry LP boosted its holdings 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 buying an additional 1,498 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Global Ship Lease by 6,856.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,600 shares of the shipping company’s stock worth $36,000 after buying an additional 1,577 shares during the period. 50.08% of the stock is currently owned by hedge funds and other institutional investors.

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.