B. Riley Asset Management LLC Buys New Stake in Global Ship Lease, Inc. (NYSE:GSL)

B. Riley Asset Management LLC bought a new stake in Global Ship Lease, Inc. (NYSE:GSLGet Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 180,273 shares of the shipping company’s stock, valued at approximately $4,130,000. Global Ship Lease makes up approximately 1.8% of B. Riley Asset Management LLC’s holdings, making the stock its 12th biggest position. B. Riley Asset Management LLC owned approximately 0.50% of Global Ship Lease as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ lifted its stake in Global Ship Lease by 26.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 666,394 shares of the shipping company’s stock valued at $14,987,000 after buying an additional 140,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Global Ship Lease by 479.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 358,800 shares of the shipping company’s stock worth $8,507,000 after purchasing an additional 296,900 shares during the period. HAP Trading LLC purchased a new position in shares of Global Ship Lease during the 3rd quarter worth $313,000. BlackRock Inc. lifted its stake in shares of Global Ship Lease by 19.8% during the 3rd quarter. BlackRock Inc. now owns 15,224 shares of the shipping company’s stock worth $361,000 after purchasing an additional 2,512 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Global Ship Lease by 1,236.5% during the 3rd quarter. Two Sigma Advisers LP now owns 340,800 shares of the shipping company’s stock worth $8,080,000 after purchasing an additional 315,300 shares during the period. 44.90% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GSL traded up $0.87 during trading hours on Friday, hitting $21.67. The company had a trading volume of 888,137 shares, compared to its average volume of 1,068,180. Global Ship Lease, Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $30.02. The company has a market capitalization of $790.09 million, a price-to-earnings ratio of 3.42 and a beta of 1.73. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.65 and a quick ratio of 0.54. The firm’s 50 day moving average is $25.55 and its 200 day moving average is $24.58.

Global Ship Lease (NYSE:GSLGet Rating) last announced its quarterly earnings results on Monday, May 9th. The shipping company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.01. Global Ship Lease had a return on equity of 33.34% and a net margin of 45.10%. During the same period in the prior year, the company posted $0.55 earnings per share. On average, equities analysts anticipate that Global Ship Lease, Inc. will post 7.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Stockholders of record on Tuesday, May 24th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, May 23rd. This is an increase from Global Ship Lease’s previous quarterly dividend of $0.25. This represents a $1.50 annualized dividend and a dividend yield of 6.92%. Global Ship Lease’s dividend payout ratio (DPR) is currently 15.80%.

A number of research analysts have weighed in on the company. B. Riley increased their price target on Global Ship Lease from $33.00 to $38.00 in a research note on Thursday, March 3rd. Zacks Investment Research downgraded Global Ship Lease from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 4th. StockNews.com initiated coverage on Global Ship Lease in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, TheStreet downgraded Global Ship Lease from a “b” rating to a “c+” rating in a report on Monday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $31.25.

About Global Ship Lease (Get Rating)

Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2022, it owned 65 mid-sized and smaller containerships with an aggregate capacity of 342,348 twenty-foot equivalent units. The company was founded in 2007 and is based in London, the United Kingdom.

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Institutional Ownership by Quarter for Global Ship Lease (NYSE:GSL)

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