16,165 Shares in Global Ship Lease, Inc. $GSL Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,165 shares of the shipping company’s stock, valued at approximately $600,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GSL. Isthmus Partners LLC raised its stake in shares of Global Ship Lease by 4.5% in the first quarter. Isthmus Partners LLC now owns 121,899 shares of the shipping company’s stock worth $4,538,000 after acquiring an additional 5,290 shares during the last quarter. Wealthstar Advisors LLC acquired a new position in shares of Global Ship Lease during the first quarter worth approximately $623,000. Y Intercept Hong Kong Ltd grew its stake in shares of Global Ship Lease by 35.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 89,933 shares of the shipping company’s stock valued at $3,348,000 after purchasing an additional 23,720 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Global Ship Lease during the first quarter valued at approximately $295,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Global Ship Lease in the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 50.08% of the company’s stock.

Global Ship Lease Stock Performance

GSL stock opened at $44.50 on Friday. The business’s fifty day moving average is $39.35 and its 200-day moving average is $38.82. The company has a quick ratio of 2.21, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.60 billion, a P/E ratio of 4.23 and a beta of 0.90. Global Ship Lease, Inc. has a twelve month low of $27.28 and a twelve month high of $44.58.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.16. Global Ship Lease had a return on equity of 21.11% and a net margin of 50.01%.The business had revenue of $198.08 million for the quarter, compared to analyst estimates of $182.87 million. Global Ship Lease’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Global Ship Lease, Inc. will post 9.5 EPS for the current year.

Global Ship Lease Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Friday, May 22nd were issued a dividend of $0.625 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.50 dividend on an annualized basis and a yield of 5.6%. Global Ship Lease’s dividend payout ratio (DPR) is 23.74%.

Analysts Set New Price Targets

Several research analysts recently weighed in on GSL shares. Wall Street Zen upgraded shares of Global Ship Lease from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Jefferies Financial Group began coverage on Global Ship Lease in a research report on Friday, April 24th. They issued a “buy” rating and a $45.00 price objective on the stock. Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday. Fearnley Fonds upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Global Ship Lease in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Global Ship Lease currently has a consensus rating of “Buy” and an average price target of $46.50.

About Global Ship Lease

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.