Navellier & Associates Inc. Takes $537,000 Position in Euroseas Ltd. $ESEA

Navellier & Associates Inc. acquired a new position in shares of Euroseas Ltd. (NASDAQ:ESEA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,840 shares of the shipping company’s stock, valued at approximately $537,000. Navellier & Associates Inc. owned 0.14% of Euroseas at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James Financial Inc. increased its holdings in shares of Euroseas by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 19,716 shares of the shipping company’s stock valued at $1,175,000 after purchasing an additional 260 shares during the period. Bank of America Corp DE boosted its holdings in shares of Euroseas by 387.8% during the second quarter. Bank of America Corp DE now owns 1,117 shares of the shipping company’s stock worth $50,000 after purchasing an additional 888 shares during the period. Quarry LP acquired a new stake in shares of Euroseas during the third quarter worth approximately $89,000. Boston Partners grew its position in Euroseas by 14.5% during the third quarter. Boston Partners now owns 19,517 shares of the shipping company’s stock valued at $1,163,000 after purchasing an additional 2,472 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC purchased a new position in Euroseas during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 6.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Euroseas in a research report on Monday, April 20th. Wall Street Zen cut shares of Euroseas from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Euroseas Price Performance

Shares of ESEA opened at $74.50 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.82 and a current ratio of 4.89. The firm has a market cap of $525.97 million, a PE ratio of 3.80 and a beta of 0.54. The firm’s 50 day moving average price is $67.58 and its 200 day moving average price is $60.57. Euroseas Ltd. has a twelve month low of $33.76 and a twelve month high of $74.75.

Euroseas (NASDAQ:ESEA) last posted its earnings results on Thursday, February 26th. The shipping company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.47 by $0.01. The company had revenue of $57.39 million during the quarter, compared to the consensus estimate of $57.83 million. Euroseas had a net margin of 60.11% and a return on equity of 27.82%. As a group, research analysts expect that Euroseas Ltd. will post 17.34 EPS for the current fiscal year.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Euroseas’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 4.0%. Euroseas’s dividend payout ratio (DPR) is currently 15.29%.

Euroseas 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.