Global Ship Lease (NYSE:GSL) Hits New 12-Month High – Here’s What Happened

Global Ship Lease, Inc. (NYSE:GSL)’s share price hit a new 52-week high on Monday . The company traded as high as $40.59 and last traded at $40.2460, with a volume of 1955 shares traded. The stock had previously closed at $40.26.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday, January 22nd. Jefferies Financial Group upped their price objective on Global Ship Lease from $33.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Zacks Research lowered Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.50.

Global Ship Lease Trading Down 0.8%

The business’s 50 day simple moving average is $36.35 and its two-hundred day simple moving average is $33.34. The stock has a market cap of $1.40 billion, a P/E ratio of 3.51 and a beta of 0.93. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 0.34.

Global Ship Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 24th will be given a $0.625 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $2.50 annualized dividend and a yield of 6.4%. Global Ship Lease’s dividend payout ratio (DPR) is currently 22.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GSL. Samalin Investment Counsel LLC increased its position in Global Ship Lease by 1.3% in the 4th quarter. Samalin Investment Counsel LLC now owns 23,127 shares of the shipping company’s stock valued at $810,000 after acquiring an additional 291 shares during the period. Isthmus Partners LLC grew its position in shares of Global Ship Lease by 0.3% in the 2nd quarter. Isthmus Partners LLC now owns 113,972 shares of the shipping company’s stock valued at $2,999,000 after buying an additional 347 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Global Ship Lease by 77.2% in the third quarter. EverSource Wealth Advisors LLC now owns 989 shares of the shipping company’s stock valued at $30,000 after buying an additional 431 shares during the period. Prospera Financial Services Inc increased its stake in shares of Global Ship Lease by 4.5% in the second quarter. Prospera Financial Services Inc now owns 11,023 shares of the shipping company’s stock valued at $290,000 after buying an additional 477 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Global Ship Lease by 5.2% during the third quarter. Parallel Advisors LLC now owns 9,827 shares of the shipping company’s stock worth $302,000 after acquiring an additional 485 shares during the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Company Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.