MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Invests $13.30 Million in Global Ship Lease, Inc. $GSL

by · The Markets Daily

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Global Ship Lease, Inc. (NYSE:GSL – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 582,240 shares of the shipping company’s stock, valued at approximately $13,304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.64% of Global Ship Lease as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Quarry LP increased its position in shares of Global Ship Lease by 321.6% in the first quarter. Quarry LP now owns 8,222 shares of the shipping company’s stock worth $188,000 after acquiring an additional 6,272 shares in the last quarter. Vident Advisory LLC grew its holdings in Global Ship Lease by 3.9% during the 1st quarter. Vident Advisory LLC now owns 44,162 shares of the shipping company’s stock valued at $1,009,000 after purchasing an additional 1,640 shares in the last quarter. State of Wyoming grew its holdings in Global Ship Lease by 14.5% during the 1st quarter. State of Wyoming now owns 15,496 shares of the shipping company’s stock valued at $354,000 after purchasing an additional 1,962 shares in the last quarter. Samalin Investment Counsel LLC grew its holdings in Global Ship Lease by 7.2% during the 1st quarter. Samalin Investment Counsel LLC now owns 27,701 shares of the shipping company’s stock valued at $633,000 after purchasing an additional 1,865 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in Global Ship Lease by 337.1% during the 1st quarter. Walleye Capital LLC now owns 74,339 shares of the shipping company’s stock valued at $1,699,000 after purchasing an additional 57,331 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Analysts Set New Price Targets

GSL has been the subject of a number of recent analyst reports. Clarkson Capital lowered shares of Global Ship Lease from a “strong-buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Thursday, May 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price target on shares of Global Ship Lease in a report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Get Our Latest Analysis on Global Ship Lease

Global Ship Lease Trading Up 0.9%

NYSE GSL opened at $31.68 on Tuesday. Global Ship Lease, Inc. has a 12 month low of $17.73 and a 12 month high of $31.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 1.94. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 2.94 and a beta of 1.12. The company’s fifty day moving average price is $29.06 and its two-hundred day moving average price is $25.23.

Global Ship Lease (NYSE:GSL – Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The shipping company reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.52. Global Ship Lease had a net margin of 53.09% and a return on equity of 24.81%. The company had revenue of $191.86 million for the quarter, compared to the consensus estimate of $177.98 million. As a group, research analysts predict that Global Ship Lease, Inc. will post 9.74 earnings per share for the current fiscal year.

Global Ship Lease Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.10 annualized dividend and a yield of 6.6%. Global Ship Lease’s dividend payout ratio (DPR) is presently 19.50%.

About Global Ship Lease

(Free Report)

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.

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