Campbell & CO Investment Adviser LLC purchased a new position in shares of Global Ship Lease, Inc. (NYSE:GSL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,500 shares of the shipping company’s stock, valued at approximately $323,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. increased its position in Global Ship Lease by 115.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,839,415 shares of the shipping company’s stock worth $25,936,000 after buying an additional 984,036 shares in the last quarter. Renaissance Technologies LLC increased its position in Global Ship Lease by 53.6% during the first quarter. Renaissance Technologies LLC now owns 818,077 shares of the shipping company’s stock worth $11,535,000 after buying an additional 285,600 shares in the last quarter. No Street GP LP purchased a new position in Global Ship Lease during the first quarter worth $11,280,000. Skandinaviska Enskilda Banken AB publ purchased a new position in Global Ship Lease during the second quarter worth $10,845,000. Finally, L & S Advisors Inc purchased a new position in Global Ship Lease during the first quarter worth $2,429,000. 57.50% of the stock is owned by institutional investors.
GSL has been the subject of a number of recent analyst reports. TheStreet raised Global Ship Lease from a “c” rating to a “b-” rating in a research report on Monday, August 16th. Jefferies Financial Group lifted their price objective on Global Ship Lease from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, June 9th. B. Riley lifted their price objective on Global Ship Lease from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, June 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Global Ship Lease in a report on Friday, July 16th. They issued a “buy” rating and a $23.00 target price on the stock. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $23.00.
Global Ship Lease (NYSE:GSL) last issued its quarterly earnings data on Thursday, August 5th. The shipping company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. The company had revenue of $82.87 million for the quarter, compared to analysts’ expectations of $79.41 million. Global Ship Lease had a return on equity of 14.12% and a net margin of 21.69%. On average, research analysts anticipate that Global Ship Lease, Inc. will post 3.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Monday, August 23rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, August 20th. Global Ship Lease’s dividend payout ratio is presently 53.48%.
Global Ship Lease Company Profile
Global Ship Lease, Inc is a holding company, which owns and charters out containerships under long-term and fixed rate charters to container shipping companies. It also focuses on the operation and technical management of each vessel, such as crewing, provision of lubricating oils, maintaining the vessel, periodic dry docking, and performing work required by regulations.
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