Fox Run Management L.L.C. Takes $1.24 Million Position in Global Ship Lease, Inc. (NYSE:GSL)

Fox Run Management L.L.C. purchased a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 56,720 shares of the shipping company’s stock, valued at approximately $1,238,000.

Other institutional investors have also recently made changes to their positions in the company. Magnetar Financial LLC boosted its position in Global Ship Lease by 34.5% during the fourth quarter. Magnetar Financial LLC now owns 14,260 shares of the shipping company’s stock valued at $311,000 after purchasing an additional 3,658 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Global Ship Lease during the fourth quarter valued at about $305,000. Isthmus Partners LLC boosted its position in Global Ship Lease by 1.3% during 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Global Ship Lease during the fourth quarter valued at about $633,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Global Ship Lease during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Global Ship Lease Price Performance

Shares of NYSE GSL opened at $23.33 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.58 and a current ratio of 1.64. The company has a market cap of $859.81 million, a PE ratio of 2.58 and a beta of 1.47. The business has a 50-day simple moving average of $22.25 and a two-hundred day simple moving average of $23.03. Global Ship Lease, Inc. has a fifty-two week low of $19.73 and a fifty-two week high of $30.32.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.25. The business had revenue of $182.43 million during the quarter, compared to the consensus estimate of $170.71 million. Global Ship Lease had a return on equity of 27.88% and a net margin of 46.38%. As a group, equities analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Monday, February 24th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 7.72%. The ex-dividend date was Monday, February 24th. Global Ship Lease’s dividend payout ratio is presently 18.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GSL shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $29.00 price objective on shares of Global Ship Lease in a research report on Wednesday, March 5th. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Finally, Clarkson Capital raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday.

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.