Moors & Cabot Inc. boosted its stake in Global Ship Lease, Inc. (NYSE:GSL – Get Rating) by 15.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,975 shares of the shipping company's stock after buying an additional 5,200 shares during the quarter. Moors & Cabot Inc. owned approximately 0.10% of Global Ship Lease worth $1,082,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Navellier & Associates Inc. raised its holdings in shares of Global Ship Lease by 6.3% during the fourth quarter. Navellier & Associates Inc. now owns 15,021 shares of the shipping company's stock worth $344,000 after acquiring an additional 887 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Global Ship Lease during the 1st quarter valued at about $27,000. Selective Wealth Management Inc. grew its stake in shares of Global Ship Lease by 566.7% in the 1st quarter. Selective Wealth Management Inc. now owns 2,000 shares of the shipping company's stock valued at $57,000 after buying an additional 1,700 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Global Ship Lease by 327.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,295 shares of the shipping company's stock worth $75,000 after buying an additional 2,524 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Global Ship Lease by 260.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the shipping company's stock valued at $103,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 65.73% of the company's stock.
Get Global Ship Lease alerts:Analyst Ratings Changes
Several research analysts have recently commented on the stock. StockNews.com lowered shares of Global Ship Lease from a "buy" rating to a "hold" rating in a research note on Thursday, July 21st. Jefferies Financial Group increased their target price on shares of Global Ship Lease from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, August 5th.
Global Ship Lease Trading Up 4.1 %
Shares of GSL stock opened at $18.71 on Friday. Global Ship Lease, Inc. has a 12 month low of $14.62 and a 12 month high of $30.02. The company has a market cap of $682.24 million, a PE ratio of 2.67 and a beta of 1.75. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.00. The business's 50 day moving average is $17.91 and its two-hundred day moving average is $21.78.Global Ship Lease Announces Dividend
The company also recently announced 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 8.02%. Global Ship Lease's payout ratio is presently 21.43%.
Global Ship Lease Profile
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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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