Donald Smith & CO. Inc. Has $46.87 Million Stock Position in Global Ship Lease, Inc. (NYSE:GSL)

Donald Smith & CO. Inc. lowered its stake in shares of Global Ship Lease, Inc. (NYSE:GSL) by 35.7% during the second quarter, HoldingsChannel reports. The fund owned 1,627,906 shares of the shipping company’s stock after selling 905,795 shares during the quarter. Donald Smith & CO. Inc.’s holdings in Global Ship Lease were worth $46,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in Global Ship Lease by 287.1% in the 4th quarter. BNP Paribas Financial Markets now owns 94,823 shares of the shipping company’s stock worth $1,879,000 after purchasing an additional 70,329 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Global Ship Lease in the fourth quarter valued at about $201,000. Janney Montgomery Scott LLC grew its position in Global Ship Lease by 13.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 26,048 shares of the shipping company’s stock worth $516,000 after buying an additional 3,011 shares in the last quarter. Quadrant Capital Group LLC grew its position in Global Ship Lease by 150.2% during the fourth quarter. Quadrant Capital Group LLC now owns 7,186 shares of the shipping company’s stock worth $142,000 after buying an additional 4,314 shares in the last quarter. Finally, Olympiad Research LP increased its stake in Global Ship Lease by 100.3% during the fourth quarter. Olympiad Research LP now owns 24,503 shares of the shipping company’s stock valued at $486,000 after acquiring an additional 12,268 shares during the period. 50.08% of the stock is currently owned by institutional investors and hedge funds.

Global Ship Lease Stock Performance

NYSE:GSL opened at $24.07 on Monday. The firm has a market capitalization of $846.98 million, a PE ratio of 2.72 and a beta of 1.60. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. Global Ship Lease, Inc. has a 12-month low of $16.80 and a 12-month high of $30.32. The firm has a 50-day moving average price of $25.54 and a 200 day moving average price of $24.75.

Global Ship Lease (NYSE:GSL) last issued its earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. The business had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $172.07 million. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. During the same period in the prior year, the firm posted $2.09 EPS. Research analysts anticipate that Global Ship Lease, Inc. will post 9.9 earnings per share for the current fiscal year.

Global Ship Lease Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.45 per share. The ex-dividend date was Friday, August 23rd. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.38. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.48%. Global Ship Lease’s dividend payout ratio (DPR) is presently 16.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GSL. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 price objective on shares of Global Ship Lease in a research report on Monday, August 5th. StockNews.com raised Global Ship Lease from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th. Finally, Clarkson Capital raised shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th.

Global Ship Lease Company Profile

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.