Altus Wealth Group LLC Sells 576 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Altus Wealth Group LLC decreased its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,738 shares of the shipping company’s stock after selling 576 shares during the period. Altus Wealth Group LLC’s holdings in Global Ship Lease were worth $344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GSL. Foundry Partners LLC raised its holdings in shares of Global Ship Lease by 45.2% during the third quarter. Foundry Partners LLC now owns 475,956 shares of the shipping company’s stock valued at $12,684,000 after purchasing an additional 148,247 shares during the last quarter. Moran Wealth Management LLC purchased a new stake in Global Ship Lease during the 3rd quarter valued at $2,894,000. Public Employees Retirement System of Ohio purchased a new stake in Global Ship Lease during the 3rd quarter valued at $1,441,000. Raymond James Financial Inc. bought a new position in shares of Global Ship Lease during the 4th quarter valued at $633,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Global Ship Lease in the 3rd quarter worth $712,000. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Up 1.0 %

NYSE:GSL opened at $23.22 on Friday. Global Ship Lease, Inc. has a one year low of $19.22 and a one year high of $30.32. The business has a fifty day moving average price of $22.13 and a 200-day moving average price of $23.08. The firm has a market capitalization of $855.86 million, a price-to-earnings ratio of 2.57 and a beta of 1.47. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings data on Wednesday, March 5th. The shipping company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.30 by $0.25. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. The firm had revenue of $182.43 million for the quarter, compared to the consensus estimate of $170.71 million. Sell-side analysts forecast that Global Ship Lease, Inc. will post 9.74 EPS for the current year.

Global Ship Lease Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.75%. The ex-dividend date was Monday, February 24th. Global Ship Lease’s dividend payout ratio is currently 18.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a report on Wednesday, March 5th. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

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.