Moors & Cabot Inc. Has $702,000 Stock Holdings in Global Ship Lease, Inc. (NYSE:GSL)

Moors & Cabot Inc. reduced its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,150 shares of the shipping company’s stock after selling 1,000 shares during the period. Moors & Cabot Inc. owned about 0.09% of Global Ship Lease worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Foundry Partners LLC boosted its holdings in 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 in the last quarter. Moran Wealth Management LLC bought a new position in shares of Global Ship Lease during the 3rd quarter worth approximately $2,894,000. Public Employees Retirement System of Ohio acquired a new stake in Global Ship Lease in the 3rd quarter valued at $1,441,000. Raymond James Financial Inc. bought a new stake in Global Ship Lease in the fourth quarter valued at $633,000. Finally, Point72 Asset Management L.P. acquired a new position in Global Ship Lease during the third quarter worth $712,000. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Trading Up 1.0 %

GSL stock opened at $23.22 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.58. The stock has a market capitalization of $855.86 million, a price-to-earnings ratio of 2.57 and a beta of 1.47. The business has a fifty day moving average price of $22.13 and a 200 day moving average price of $23.09. Global Ship Lease, Inc. has a fifty-two week low of $19.22 and a fifty-two week high of $30.32.

Global Ship Lease (NYSE:GSL) last announced its earnings results on Wednesday, March 5th. The shipping company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $182.43 million during the quarter, compared to analyst estimates of $170.71 million. Analysts expect that Global Ship Lease, Inc. will post 9.74 EPS for the current fiscal year.

Global Ship Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.75%. Global Ship Lease’s payout ratio is 18.50%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research note on Wednesday, March 5th. StockNews.com lowered shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

About Global Ship Lease

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.