Navellier & Associates Inc. Has $1.03 Million Holdings in Euroseas Ltd. $ESEA

Navellier & Associates Inc. raised its holdings in Euroseas Ltd. (NASDAQ:ESEA) by 94.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,562 shares of the shipping company’s stock after acquiring an additional 7,575 shares during the period. Navellier & Associates Inc.’s holdings in Euroseas were worth $1,033,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ESEA. Bank of America Corp DE lifted its holdings in shares of Euroseas by 1,611.0% in the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after acquiring an additional 1,756 shares during the last quarter. Geode Capital Management LLC bought a new stake in shares of Euroseas during the 2nd quarter valued at approximately $226,000. Jump Financial LLC bought a new stake in shares of Euroseas during the 2nd quarter valued at approximately $260,000. Raymond James Financial Inc. acquired a new position in Euroseas during the 2nd quarter worth approximately $870,000. Finally, Jane Street Group LLC acquired a new position in Euroseas during the 2nd quarter worth approximately $259,000. Institutional investors and hedge funds own 6.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ESEA. Zacks Research downgraded shares of Euroseas from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Euroseas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Euroseas Stock Performance

NASDAQ:ESEA opened at $76.63 on Friday. The stock’s 50-day moving average is $72.74 and its 200-day moving average is $68.81. Euroseas Ltd. has a 1-year low of $51.00 and a 1-year high of $79.67. The company has a current ratio of 5.46, a quick ratio of 5.38 and a debt-to-equity ratio of 0.36. The stock has a market cap of $541.01 million, a P/E ratio of 3.94 and a beta of 0.45.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.61. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. The business had revenue of $56.50 million during the quarter, compared to analyst estimates of $55.98 million. Equities research analysts anticipate that Euroseas Ltd. will post 18.03 earnings per share for the current year.

Euroseas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 9th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, September 9th. Euroseas’s dividend payout ratio is 16.47%.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ: ESEA) is an international shipping company specializing in seaborne transportation of containerized and drybulk cargoes. Incorporated in Bermuda with its principal operations and management office based in Athens, Greece, the company owns and charters a diversified fleet of containerships, drybulk carriers and multipurpose vessels. Euroseas provides tailored shipping solutions on time-charter and voyage-charter agreements, serving manufacturers, commodity traders and logistics providers across major trade routes.

Euroseas’s fleet comprises both owned and chartered tonnage, enabling the company to adjust capacity to market conditions and customer requirements.