Exchange Traded Concepts LLC cut its stake in Euroseas Ltd. (NASDAQ:ESEA – Free Report) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,703 shares of the shipping company’s stock after selling 3,623 shares during the period. Exchange Traded Concepts LLC owned approximately 0.25% of Euroseas worth $384,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of ESEA. Walleye Trading LLC bought a new stake in Euroseas in the 1st quarter valued at $221,000. Cubist Systematic Strategies LLC bought a new stake in Euroseas in the 2nd quarter valued at $225,000. UBS Group AG boosted its holdings in Euroseas by 375.3% in the 1st quarter. UBS Group AG now owns 8,232 shares of the shipping company’s stock valued at $238,000 after purchasing an additional 6,500 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Euroseas during the 1st quarter worth about $274,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Euroseas during the 1st quarter worth about $308,000. 2.75% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on shares of Euroseas in a report on Thursday. They set a “buy” rating for the company.
Euroseas Price Performance
NASDAQ:ESEA opened at $27.51 on Friday. The company has a 50-day moving average of $25.41 and a 200-day moving average of $22.03. The company has a market capitalization of $192.74 million, a price-to-earnings ratio of 1.88 and a beta of 0.71. Euroseas Ltd. has a 52 week low of $16.88 and a 52 week high of $28.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.72.
Euroseas (NASDAQ:ESEA – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The shipping company reported $4.17 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $2.37. Euroseas had a net margin of 57.82% and a return on equity of 48.90%. The company had revenue of $49.31 million during the quarter, compared to the consensus estimate of $39.46 million. As a group, equities research analysts anticipate that Euroseas Ltd. will post 12.62 earnings per share for the current fiscal year.
Euroseas Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, September 16th. Investors of record on Saturday, September 9th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.27%. The ex-dividend date was Thursday, September 7th. Euroseas’s dividend payout ratio is currently 13.69%.
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 May 02, 2023, it had a fleet of 18 vessels, including 11 feeder and 7 intermediate containerships with a cargo capacity of approximately 56, 061 twenty-foot equivalent unit.
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