Harbor Capital Advisors Inc. Purchases 301,280 Shares of Global Ship Lease, Inc. (NYSE:GSL)

Harbor Capital Advisors Inc. raised its position in Global Ship Lease, Inc. (NYSE:GSL) by 147.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 506,085 shares of the shipping company’s stock after purchasing an additional 301,280 shares during the period. Global Ship Lease accounts for 0.6% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 28th biggest position. Harbor Capital Advisors Inc.’s holdings in Global Ship Lease were worth $13,487,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Global Ship Lease by 23.3% during the 2nd quarter. Signaturefd LLC now owns 2,526 shares of the shipping company’s stock worth $73,000 after acquiring an additional 477 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Global Ship Lease during the 2nd quarter worth $88,000. Blue Trust Inc. lifted its holdings in shares of Global Ship Lease by 2,642.1% during the 2nd quarter. Blue Trust Inc. now owns 3,126 shares of the shipping company’s stock worth $90,000 after acquiring an additional 3,012 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Global Ship Lease during the 2nd quarter worth $107,000. Finally, nVerses Capital LLC lifted its holdings in shares of Global Ship Lease by 355.6% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the shipping company’s stock worth $118,000 after acquiring an additional 3,200 shares during the last quarter. 50.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on GSL shares. Jefferies Financial Group reiterated a “buy” rating and issued a $29.00 target price on shares of Global Ship Lease in a research report on Monday, August 5th. StockNews.com cut shares of Global Ship Lease from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Clarkson Capital upgraded shares of Global Ship Lease from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th.

Global Ship Lease Price Performance

Shares of NYSE:GSL opened at $24.06 on Friday. The stock has a market cap of $886.85 million, a PE ratio of 2.63 and a beta of 1.62. The company’s fifty day moving average is $24.65 and its 200 day moving average is $25.82. Global Ship Lease, Inc. has a 52 week low of $16.80 and a 52 week high of $30.32. 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 (NYSE:GSL) last issued its earnings results on Monday, August 5th. The shipping company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.19. Global Ship Lease had a net margin of 46.90% and a return on equity of 28.92%. The company had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $172.07 million. During the same quarter last year, the company earned $2.09 EPS. Research analysts anticipate that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Friday, August 23rd were given a $0.45 dividend. This is a boost from Global Ship Lease’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, August 23rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.48%. Global Ship Lease’s payout ratio is presently 16.39%.

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.