Walleye Capital LLC Cuts Stock Position in Euroseas Ltd. $ESEA

Walleye Capital LLC cut its holdings in shares of Euroseas Ltd. (NASDAQ:ESEA) by 54.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,327 shares of the shipping company’s stock after selling 12,182 shares during the quarter. Walleye Capital LLC owned approximately 0.15% of Euroseas worth $690,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. grew its position in shares of Euroseas by 1.3% during the third quarter. Raymond James Financial Inc. now owns 19,716 shares of the shipping company’s stock worth $1,175,000 after purchasing an additional 260 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Euroseas in the 4th quarter worth approximately $34,000. Bank of America Corp DE boosted its stake in Euroseas by 387.8% in the 2nd 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. Northwestern Mutual Wealth Management Co. boosted its stake in Euroseas by 540.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,280 shares of the shipping company’s stock worth $76,000 after purchasing an additional 1,080 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Euroseas by 3.7% during the 4th quarter. Lazard Asset Management LLC now owns 35,031 shares of the shipping company’s stock valued at $1,913,000 after buying an additional 1,262 shares in the last quarter. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

Euroseas Trading Up 1.7%

Shares of ESEA stock opened at $76.99 on Friday. Euroseas Ltd. has a 1 year low of $48.89 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 5.46 and a quick ratio of 5.38. The stock’s 50 day simple moving average is $68.61 and its two-hundred day simple moving average is $65.13. The company has a market cap of $543.55 million, a PE ratio of 4.06 and a beta of 0.45.

Euroseas (NASDAQ:ESEA) last announced its earnings results on Thursday, May 21st. The shipping company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.26 by $0.44. The firm had revenue of $55.84 million during the quarter, compared to analysts’ expectations of $56.61 million. Euroseas had a return on equity of 27.55% and a net margin of 58.31%. Research analysts predict that Euroseas Ltd. will post 18.1 earnings per share for the current year.

Euroseas Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 9th were given a $0.80 dividend. This is a boost from Euroseas’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Tuesday, June 9th. Euroseas’s dividend payout ratio is 16.86%.

Analyst Upgrades and Downgrades

ESEA has been the topic of several recent analyst reports. Weiss Ratings cut shares of Euroseas from a “buy (b)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Zacks Research raised shares of Euroseas from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Alliance Global Partners reiterated a “buy” rating on shares of Euroseas in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

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.