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

Navellier & Associates Inc. raised its stake in Euroseas Ltd. (NASDAQ:ESEA) by 94.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,562 shares of the shipping company’s stock after acquiring an additional 7,575 shares during the quarter. Navellier & Associates Inc. owned about 0.22% of Euroseas worth $1,033,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ESEA. Bank of America Corp DE increased its stake in shares of Euroseas by 1,611.0% during the fourth quarter. Bank of America Corp DE now owns 1,865 shares of the shipping company’s stock worth $68,000 after purchasing an additional 1,756 shares during the period. Geode Capital Management LLC acquired a new stake in Euroseas during the 2nd quarter worth approximately $226,000. Jump Financial LLC bought a new stake in Euroseas in the 2nd quarter valued at $260,000. Raymond James Financial Inc. bought a new stake in Euroseas in the 2nd quarter valued at $870,000. Finally, Jane Street Group LLC acquired a new position in Euroseas in the 2nd quarter valued at $259,000. Institutional investors own 6.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ESEA. Zacks Research downgraded Euroseas from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. Finally, Weiss Ratings raised shares of Euroseas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Euroseas Stock Up 0.2%

Shares of NASDAQ ESEA opened at $76.63 on Friday. The stock has a market capitalization of $541.01 million, a P/E ratio of 3.94 and a beta of 0.45. The stock’s fifty day moving average is $72.74 and its 200 day moving average is $68.81. Euroseas Ltd. has a 52 week low of $51.00 and a 52 week high of $79.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.38 and a current ratio of 5.46.

Euroseas (NASDAQ:ESEA) last announced its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.09 by $0.61. The firm had revenue of $56.50 million for the quarter, compared to the consensus estimate of $55.98 million. Euroseas had a net margin of 59.98% and a return on equity of 26.58%. Sell-side analysts forecast that Euroseas Ltd. will post 18.03 earnings per share for the current fiscal year.

Euroseas Dividend Announcement

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

About Euroseas

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.