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

B. Riley Asset Management LLC purchased a new stake in Global Ship Lease, Inc. (NYSE:GSLGet Rating) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 180,273 shares of the shipping company’s stock, valued at approximately $4,130,000. Global Ship Lease makes up about 1.8% of B. Riley Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. B. Riley Asset Management LLC owned approximately 0.50% of Global Ship Lease at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GSL. Retirement Planning Co of New England Inc. acquired a new stake in shares of Global Ship Lease during the fourth quarter valued at about $31,000. Citigroup Inc. grew its stake in shares of Global Ship Lease by 146.6% during the fourth quarter. Citigroup Inc. now owns 3,016 shares of the shipping company’s stock valued at $69,000 after acquiring an additional 1,793 shares in the last quarter. American National Bank acquired a new stake in shares of Global Ship Lease during the fourth quarter valued at about $75,000. Lazard Asset Management LLC lifted its position in shares of Global Ship Lease by 327.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,295 shares of the shipping company’s stock worth $75,000 after purchasing an additional 2,524 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Global Ship Lease by 479.2% during the first quarter. Morgan Stanley now owns 5,804 shares of the shipping company’s stock worth $82,000 after purchasing an additional 4,802 shares during the last quarter. Hedge funds and other institutional investors own 44.90% of the company’s stock.

Several equities analysts have recently commented on GSL shares. StockNews.com started coverage on shares of Global Ship Lease in a research report on Thursday, March 31st. They set a “hold” rating on the stock. B. Riley increased their price target on shares of Global Ship Lease from $33.00 to $38.00 in a research report on Thursday, March 3rd. TheStreet cut shares of Global Ship Lease from a “b” rating to a “c+” rating in a research report on Monday, May 2nd. Finally, Zacks Investment Research cut shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $31.25.

NYSE GSL traded up $0.87 during trading hours on Friday, reaching $21.67. The company’s stock had a trading volume of 888,137 shares, compared to its average volume of 1,068,180. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 1.08. The business has a 50-day simple moving average of $25.55 and a 200 day simple moving average of $24.58. Global Ship Lease, Inc. has a 52 week low of $14.84 and a 52 week high of $30.02. The stock has a market cap of $790.09 million, a PE ratio of 3.42 and a beta of 1.73.

Global Ship Lease (NYSE:GSLGet Rating) last issued its earnings results on Monday, May 9th. The shipping company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.01. Global Ship Lease had a net margin of 45.10% and a return on equity of 33.34%. During the same period in the previous year, the company earned $0.55 EPS. As a group, equities analysts predict that Global Ship Lease, Inc. will post 7.45 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Tuesday, May 24th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, May 23rd. This represents a $1.50 annualized dividend and a dividend yield of 6.92%. This is a positive change from Global Ship Lease’s previous quarterly dividend of $0.25. Global Ship Lease’s dividend payout ratio (DPR) is presently 15.80%.

Global Ship Lease Profile (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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