10 Best Shipping and Container Stocks To Buy

5. Global Ship Lease, Inc. (NYSE:GSL)

Number of Hedge Fund Holders: 17

Global Ship Lease, Inc. (NYSE:GSL) owns and operates containerships, offering high-specification, mid-size, and smaller vessels to liner shipping companies. These vessels are utilized under a balanced mix of both longer-term and short-term charters.

On May 16, Jefferies raised the price target for Global Ship Lease, Inc. (NYSE:GSL) shares to $29.00 from the previous target of $26.00, while reiterating a Buy rating on the stock. This upgrade follows the company’s strong performance in the first quarter, during which it added $54.6 million to its substantial contracted revenue backlog, now totaling $1.6 billion. Global Ship Lease, Inc. (NYSE:GSL) is well-positioned to benefit from rising charter rates, with 20 of its ships scheduled to become available in 2024. The company also declared a regular dividend of $0.375 per share and repurchased $5 million of its shares during the quarter.

According to Insider Monkey’s Q1 2024 database, 17 hedge funds held bullish positions in Global Ship Lease, Inc. (NYSE:GSL), compared to 19 in the prior quarter. The largest stakeholder is David Salanic’s Whitefort Capital, with approximately 1.97 million shares valued at $40.13 million. The positive hedge fund sentiment around the stock has earned Global Ship Lease, Inc. (NYSE:GSL) a spot among the top five on our list of the best shipping and container stocks.