Lazard Asset Management LLC Purchases 116,606 Shares of Global Ship Lease, Inc. $GSL

Lazard Asset Management LLC raised its holdings in shares of Global Ship Lease, Inc. (NYSE:GSL) by 65.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,674 shares of the shipping company’s stock after purchasing an additional 116,606 shares during the period. Lazard Asset Management LLC owned 0.82% of Global Ship Lease worth $10,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GSL. Triumph Capital Management acquired a new stake in shares of Global Ship Lease during the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Global Ship Lease during the fourth quarter worth approximately $29,000. Hilton Head Capital Partners LLC acquired a new position in Global Ship Lease in the fourth quarter valued at approximately $35,000. SHP Wealth Management acquired a new position in Global Ship Lease in the fourth quarter valued at approximately $35,000. Finally, LOM Asset Management Ltd acquired a new position in Global Ship Lease in the fourth quarter valued at approximately $49,000. Institutional investors own 50.08% of the company’s stock.

Global Ship Lease Stock Down 0.7%

Shares of NYSE:GSL opened at $43.31 on Thursday. Global Ship Lease, Inc. has a 52 week low of $27.28 and a 52 week high of $43.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.21 and a current ratio of 2.26. The company has a market capitalization of $1.56 billion, a PE ratio of 4.11 and a beta of 0.90. The company has a 50 day moving average price of $39.28 and a two-hundred day moving average price of $38.76.

Global Ship Lease (NYSE:GSL) last announced its quarterly earnings results on Friday, May 22nd. The shipping company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.16. The company had revenue of $198.08 million for the quarter, compared to analysts’ expectations of $182.87 million. Global Ship Lease had a net margin of 50.01% and a return on equity of 21.11%. Global Ship Lease’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts forecast that Global Ship Lease, Inc. will post 9.5 earnings per share for the current year.

Global Ship Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Friday, May 22nd were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, May 22nd. Global Ship Lease’s dividend payout ratio (DPR) is presently 23.74%.

Analysts Set New Price Targets

GSL has been the subject of a number of analyst reports. Wall Street Zen raised shares of Global Ship Lease from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Fearnley Fonds raised Global Ship Lease from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Global Ship Lease in a research report on Friday, July 17th. Zacks Research raised Global Ship Lease from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group began coverage on Global Ship Lease in a report on Friday, April 24th. They issued a “buy” rating and a $45.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Global Ship Lease presently has a consensus rating of “Buy” and a consensus price target of $46.50.

Global Ship Lease 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.