Renaissance Technologies LLC Buys 16,700 Shares of Euroseas Ltd. (NASDAQ:ESEA)

Renaissance Technologies LLC lifted its stake in Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,078 shares of the shipping company's stock after acquiring an additional 16,700 shares during the quarter. Renaissance Technologies LLC owned approximately 1.64% of Euroseas worth $4,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in shares of Euroseas by 389.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company's stock valued at $1,949,000 after purchasing an additional 42,830 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Euroseas by 46.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company's stock worth $413,000 after acquiring an additional 3,600 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Euroseas during the 4th quarter valued at about $306,000. Retireful LLC bought a new position in shares of Euroseas in the 4th quarter valued at approximately $222,000. Finally, Barclays PLC lifted its holdings in Euroseas by 67.5% in the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company's stock worth $30,000 after purchasing an additional 251 shares during the last quarter. 6.27% of the stock is currently owned by institutional investors and hedge funds.

Euroseas Price Performance

Shares of ESEA stock traded up $0.77 during trading hours on Thursday, hitting $30.88. The company had a trading volume of 23,471 shares, compared to its average volume of 38,456. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 1.65. The firm's fifty day moving average is $31.24 and its 200 day moving average is $35.29. Euroseas Ltd. has a 12 month low of $26.30 and a 12 month high of $50.92. The firm has a market capitalization of $216.35 million, a price-to-earnings ratio of 1.90 and a beta of 0.66.

Euroseas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.65 per share. The ex-dividend date was Tuesday, March 11th. This is a positive change from Euroseas's previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 8.42%. Euroseas's dividend payout ratio is 16.10%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Euroseas in a report on Saturday, March 22nd. They set a "buy" rating for the company.

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