23,400 Shares in Euroseas Ltd. (NASDAQ:ESEA) Purchased by Novem Group

Novem Group purchased a new stake in shares of Euroseas Ltd. (NASDAQ:ESEA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 23,400 shares of the shipping company’s stock, valued at approximately $847,000. Novem Group owned about 0.33% of Euroseas at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESEA. Barclays PLC boosted its holdings in Euroseas by 67.5% during the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 251 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Euroseas during the fourth quarter valued at $306,000. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Euroseas by 46.1% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company’s stock worth $413,000 after purchasing an additional 3,600 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Euroseas by 389.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company’s stock worth $1,949,000 after buying an additional 42,830 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Euroseas by 17.0% during the 4th quarter. Renaissance Technologies LLC now owns 115,078 shares of the shipping company’s stock valued at $4,166,000 after buying an additional 16,700 shares in the last quarter. 6.27% of the stock is owned by hedge funds and other institutional investors.

Euroseas Stock Down 0.1%

Shares of NASDAQ:ESEA opened at $38.95 on Thursday. The business’s 50 day moving average is $31.95 and its 200 day moving average is $34.36. The stock has a market cap of $273.04 million, a P/E ratio of 2.40 and a beta of 0.75. Euroseas Ltd. has a 52-week low of $26.30 and a 52-week high of $50.92. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53.

Euroseas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.65 per share. This is an increase from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.68%. Euroseas’s dividend payout ratio is presently 16.10%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Euroseas in a research report on Tuesday. They issued a “hold” rating for the company.

Euroseas 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 March 31, 2024, it had a fleet of 20 containerships with a cargo carrying capacity of approximately 777,749 dwt.