Donald Smith & CO. Inc. Boosts Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

Donald Smith & CO. Inc. increased its position in Global Ship Lease, Inc. (NYSE:GSL) by 235.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,564,165 shares of the shipping company’s stock after acquiring an additional 1,098,558 shares during the quarter. Donald Smith & CO. Inc. owned about 4.35% of Global Ship Lease worth $31,002,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GSL. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Global Ship Lease in the fourth quarter worth about $21,588,000. Foundry Partners LLC increased its holdings in Global Ship Lease by 19.8% in the 3rd quarter. Foundry Partners LLC now owns 306,024 shares of the shipping company’s stock valued at $5,612,000 after acquiring an additional 50,680 shares during the last quarter. Crescent Grove Advisors LLC boosted its holdings in shares of Global Ship Lease by 173.8% during the 3rd quarter. Crescent Grove Advisors LLC now owns 63,360 shares of the shipping company’s stock valued at $1,162,000 after purchasing an additional 40,215 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Global Ship Lease by 47.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 106,676 shares of the shipping company’s stock valued at $1,956,000 after purchasing an additional 34,313 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Global Ship Lease during the fourth quarter valued at about $579,000. Hedge funds and other institutional investors own 50.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GSL. Jefferies Financial Group reiterated a “buy” rating and set a $25.00 target price on shares of Global Ship Lease in a research report on Monday, March 4th. StockNews.com downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 23rd.

Global Ship Lease Trading Up 0.8 %

Shares of NYSE:GSL traded up $0.19 during trading hours on Monday, hitting $23.00. 714,201 shares of the company’s stock traded hands, compared to its average volume of 673,012. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.00. The business has a fifty day moving average price of $20.57 and a 200-day moving average price of $19.68. Global Ship Lease, Inc. has a 1 year low of $16.80 and a 1 year high of $23.06. The firm has a market capitalization of $809.19 million, a P/E ratio of 2.73 and a beta of 1.50.

Global Ship Lease (NYSE:GSL) last released its earnings results on Monday, March 4th. The shipping company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.15. The business had revenue of $178.89 million during the quarter, compared to the consensus estimate of $171.54 million. Global Ship Lease had a return on equity of 29.87% and a net margin of 45.12%. During the same period last year, the company earned $2.14 earnings per share. Equities analysts expect that Global Ship Lease, Inc. will post 9.4 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 22nd were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.50 annualized dividend and a yield of 6.52%. Global Ship Lease’s payout ratio is currently 18.01%.

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.