Crescent Grove Advisors LLC Takes $252,000 Position in Global Ship Lease, Inc. (NYSE:GSL)

Crescent Grove Advisors LLC acquired a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,440 shares of the shipping company’s stock, valued at approximately $252,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its holdings in Global Ship Lease by 147.1% in the third quarter. Harbor Capital Advisors Inc. now owns 506,085 shares of the shipping company’s stock worth $13,487,000 after purchasing an additional 301,280 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Global Ship Lease by 126.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 90,840 shares of the shipping company’s stock worth $2,421,000 after acquiring an additional 50,660 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in Global Ship Lease by 14.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,857,529 shares of the shipping company’s stock valued at $49,503,000 after acquiring an additional 229,623 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Global Ship Lease in the third quarter valued at approximately $213,000. Finally, International Assets Investment Management LLC purchased a new position in Global Ship Lease in the third quarter worth $477,000. Institutional investors own 50.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GSL. Jefferies Financial Group reissued 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 downgraded Global Ship Lease from a “strong-buy” rating to a “buy” rating in a report on Friday, October 25th. Finally, Clarkson Capital upgraded Global Ship Lease from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th.

Global Ship Lease Trading Up 1.4 %

NYSE:GSL opened at $24.57 on Thursday. The company has a market capitalization of $905.65 million, a P/E ratio of 2.69 and a beta of 1.62. The company has a current ratio of 1.42, a quick ratio of 1.36 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 fifty day simple moving average of $24.60 and a 200-day simple moving average of $25.88.

Global Ship Lease (NYSE:GSL) last posted its quarterly earnings results on Monday, August 5th. The shipping company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.19. Global Ship Lease had a return on equity of 28.92% and a net margin of 46.90%. The business had revenue of $175.00 million for the quarter, compared to the consensus estimate of $172.07 million. During the same quarter in the previous year, the business earned $2.09 EPS. On average, equities research analysts anticipate that Global Ship Lease, Inc. will post 9.85 earnings per share for the current year.

Global Ship Lease 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.