Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Global Ship Lease, Inc. (NYSE:GSL – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 158,471 shares of the shipping company's stock, valued at approximately $4,515,000. Raymond James Financial Services Advisors Inc. owned approximately 0.43% of Global Ship Lease as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of GSL. Raymond James & Associates bought a new stake in shares of Global Ship Lease during the fourth quarter valued at about $300,000. Lazard Asset Management LLC raised its stake in shares of Global Ship Lease by 327.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,295 shares of the shipping company's stock valued at $75,000 after purchasing an additional 2,524 shares in the last quarter. BNP Paribas Arbitrage SA bought a new stake in shares of Global Ship Lease during the fourth quarter valued at about $312,000. Skandinaviska Enskilda Banken AB publ grew its holdings in Global Ship Lease by 26.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 666,394 shares of the shipping company's stock worth $14,987,000 after acquiring an additional 140,000 shares during the period. Finally, B. Riley Asset Management LLC acquired a new position in Global Ship Lease during the fourth quarter worth about $4,130,000. 65.73% of the stock is currently owned by institutional investors.
Get Global Ship Lease alerts:Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GSL. Jefferies Financial Group lifted their target price on Global Ship Lease from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, August 5th. StockNews.com lowered Global Ship Lease from a "buy" rating to a "hold" rating in a report on Thursday, July 21st.
Global Ship Lease Trading Up 1.1 %
Shares of GSL opened at $18.64 on Friday. The business's 50-day moving average price is $17.75 and its 200 day moving average price is $22.09. The stock has a market capitalization of $679.69 million, a P/E ratio of 2.63 and a beta of 1.78. Global Ship Lease, Inc. has a 1-year low of $14.62 and a 1-year high of $30.02. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.00.Global Ship Lease Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Tuesday, August 23rd were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $1.50 dividend on an annualized basis and a yield of 8.05%. Global Ship Lease's dividend payout ratio is currently 21.43%.
About Global Ship Lease
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Global Ship Lease, Inc owns and charters containerships of various sizes under fixed-rate charters to container shipping companies. As of March 10, 2022, it owned 65 mid-sized and smaller containerships with an aggregate capacity of 342,348 twenty-foot equivalent units. The company was founded in 2007 and is based in London, the United Kingdom.
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