Harbor Capital Advisors Inc. Has $4.30 Million Holdings in Global Ship Lease, Inc. $GSL

Harbor Capital Advisors Inc. decreased its holdings in Global Ship Lease, Inc. (NYSE:GSL) by 15.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,702 shares of the shipping company’s stock after selling 22,563 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Global Ship Lease were worth $4,299,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Global Ship Lease by 137.0% in the first quarter. Goldman Sachs Group Inc. now owns 42,098 shares of the shipping company’s stock worth $962,000 after purchasing an additional 24,333 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Global Ship Lease during the second quarter valued at approximately $445,000. Russell Investments Group Ltd. boosted its position in shares of Global Ship Lease by 66.1% during the second quarter. Russell Investments Group Ltd. now owns 4,715 shares of the shipping company’s stock valued at $124,000 after buying an additional 1,877 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Global Ship Lease by 10.1% during the second quarter. New York State Common Retirement Fund now owns 50,122 shares of the shipping company’s stock worth $1,319,000 after buying an additional 4,582 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in Global Ship Lease by 45.5% during the second quarter. Quantbot Technologies LP now owns 60,822 shares of the shipping company’s stock worth $1,600,000 after buying an additional 19,009 shares in the last quarter. Institutional investors and hedge funds own 50.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GSL. B. Riley Financial raised their price objective on Global Ship Lease from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Global Ship Lease in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Global Ship Lease from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Zacks Research lowered shares of Global Ship Lease from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 19th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.33.

Global Ship Lease Stock Performance

GSL stock opened at $38.38 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.38 billion, a PE ratio of 3.37 and a beta of 0.96. The business has a 50 day moving average of $38.24 and a 200-day moving average of $34.85. Global Ship Lease, Inc. has a 12-month low of $17.73 and a 12-month high of $41.40.

Global Ship Lease (NYSE:GSL) last issued its quarterly earnings results on Thursday, March 5th. The shipping company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.01. Global Ship Lease had a return on equity of 22.35% and a net margin of 54.33%.The business had revenue of $190.95 million for the quarter, compared to analyst estimates of $188.39 million. Global Ship Lease’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Global Ship Lease, Inc. will post 9.74 earnings per share for the current year.

Global Ship Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 24th were paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Tuesday, February 24th. Global Ship Lease’s payout ratio is presently 21.95%.

Global Ship Lease Company Profile

Global Ship Lease (NYSE: GSL) is a Bermuda-based containership charter owner focused on acquiring, owning and leasing modern, fuel-efficient vessels to major liner operators. Founded in 2011 and listed on the New York Stock Exchange the same year, the company’s fleet primarily comprises post-Panamax containerships designed to serve the high-volume Asia–Europe and transpacific shipping lanes. By specializing in long-term charter agreements, Global Ship Lease aims to maintain stable revenue streams and minimize spot-market volatility.

The company’s business model centers on negotiating multi-year time charters with leading global shipping lines.