Euroseas Ltd. (NASDAQ:ESEA) Position Boosted by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its stake in Euroseas Ltd. (NASDAQ:ESEA) by 42.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,135 shares of the shipping company’s stock after purchasing an additional 3,617 shares during the quarter. Squarepoint Ops LLC owned 0.17% of Euroseas worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Beacon Capital Management LLC acquired a new position in shares of Euroseas during the 1st quarter worth $36,000. Tucker Asset Management LLC acquired a new position in shares of Euroseas during the 4th quarter valued at about $86,000. Redhawk Wealth Advisors Inc. acquired a new stake in Euroseas in the 2nd quarter worth approximately $248,000. Lazard Asset Management LLC boosted its position in Euroseas by 3,282.3% during the first quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock worth $294,000 after purchasing an additional 7,976 shares during the period. Finally, Virtu Financial LLC acquired a new position in Euroseas during the fourth quarter valued at approximately $350,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Analysts Set New Price Targets

ESEA has been the subject of a number of analyst reports. StockNews.com cut shares of Euroseas from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Noble Financial raised Euroseas to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Alliance Global Partners initiated coverage on Euroseas in a report on Monday, September 9th. They set a “buy” rating and a $60.00 price target for the company.

Euroseas Stock Up 3.3 %

Shares of ESEA opened at $44.88 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.46. The company has a 50-day simple moving average of $44.55 and a 200-day simple moving average of $39.48. Euroseas Ltd. has a 52 week low of $22.50 and a 52 week high of $50.92. The firm has a market capitalization of $314.43 million, a P/E ratio of 2.95 and a beta of 0.85.

Euroseas (NASDAQ:ESEA) last issued its earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, topping the consensus estimate of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The firm had revenue of $60.29 million during the quarter, compared to analysts’ expectations of $49.33 million. On average, equities research analysts expect that Euroseas Ltd. will post 13.24 earnings per share for the current year.

Euroseas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Monday, September 9th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas’s dividend payout ratio is 15.76%.

Euroseas Company Profile

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables. As of March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.