Punch & Associates Investment Man recently announced the acquisition of new stake in Global Ship Lease Inc (NYSE:GSL). The institutional investor has increased its shareholding in the Industrials company by 0.07% to 1.91 million shares with purchase of 1415.0 shares. This fresh investment now brings its stake to 5.43% valued currently at $37.88 million. In addition, Morgan Stanley & Co. LLC raised its holdings by 0.2 million to 1.9 million shares. And Millennium Management LLC has lifted its position by 38.59% or 0.26 million shares – to 0.92 million shares.
With over 0.47 million Global Ship Lease Inc (GSL) shares trading Friday and a closing price of $20.41 on the day, the dollar volume was approximately $9.56 million. The shares have shown a positive half year performance of 1.74% and its price on 01/12/24 lost nearly -0.54%. Currently, there are 35.99M common shares owned by the public and among those 32.39M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for GSL have a consensus price objective of $25.00. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $17.00. The average price target is 18.36% above its recent price level and a downside to the estimated low will see the stock lose -20.06% over that period. But an upside of 46.29% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
The top 3 mutual fund holders in Global Ship Lease Inc are SPDR Portfolio Developed World ex, Multi Manager Access – US Equitie, and Incrementum All Seasons Fund. SPDR Portfolio Developed World ex owns 0.25 million shares of the company’s stock, all valued at over $4.91 million. Multi Manager Access – US Equitie bought 14608.0 shares to see its total holdings expand to 0.17 million shares valued at over $3.37 million and representing 0.48% of the shares outstanding. Incrementum All Seasons Fund sold 25.0 shares to bring its total holdings to over 98607.0 shares at a value of $1.95 million. Incrementum All Seasons Fund now owns shares totaling to 0.28% of the shares outstanding.
Shares of Global Ship Lease Inc (NYSE: GSL) opened at $20.88, up $0.36 from a prior closing price of $20.52. However, the script later moved the day high at 21.11, down -0.54%. The company’s stock has a 5-day price change of -3.04% and 14.09% over the past three months. GSL shares are trading 2.98% year to date (YTD), with the 12-month market performance up to 16.83% higher. It has a 12-month low price of $16.80 and touched a high of $21.83 over the same period. GSL has an average intraday trading volume of 548.76K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.57%, 9.11%, and 7.85% respectively.
Institutional ownership of Global Ship Lease Inc (NYSE: GSL) shares accounts for 46.54% of the company’s 35.99M shares outstanding. Mutual fund holders own 2.33%, while other institutional holders and individual stakeholders account for 44.12% and — respectively.
It has a market capitalization of $718.23M and a beta (3y monthly) value of 1.53. The stock’s trailing 12-month PE ratio is 2.41, while the earnings-per-share (ttm) stands at $8.46. The company has a PEG of 0.20 and a Quick Ratio of 0.86 with the debt-to-equity ratio at 0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.78% over the week and 2.65% over the month.
Analysts forecast that Global Ship Lease Inc (GSL) will achieve an EPS of $2.35 for the current quarter, $2.25 for the next quarter and $8.7 for 2024. The lowest estimate earnings-per-share for the quarter is $2.33 while analysts give the company a high EPS estimate of $2.37. Comparatively, EPS for the current quarter was $2.14 a year ago. Earnings per share for the fiscal year are expected to increase by 12.31%, and 0.08% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Global Ship Lease Inc (GSL) as a “Strong Buy” at a consensus score of 1.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GSL, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on July 21, 2022, with the firm’s price target at $22.
