Euroseas Ltd. (NASDAQ:ESEA) Stock Position Lifted by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its stake in shares of Euroseas Ltd. (NASDAQ:ESEA - Free Report) by 389.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,840 shares of the shipping company's stock after acquiring an additional 42,830 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.77% of Euroseas worth $1,949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESEA. Exchange Traded Concepts LLC bought a new stake in shares of Euroseas in the 4th quarter worth approximately $306,000. Retireful LLC bought a new position in shares of Euroseas in the fourth quarter valued at $222,000. Geode Capital Management LLC acquired a new stake in shares of Euroseas during the 3rd quarter valued at $248,000. 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. Finally, Barclays PLC grew its holdings in shares of Euroseas by 67.5% in the 3rd quarter. Barclays PLC now owns 623 shares of the shipping company's stock worth $30,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 6.27% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Euroseas in a research note on Saturday, March 22nd. They issued a "buy" rating on the stock.

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Euroseas Stock Down 1.8 %

NASDAQ:ESEA traded down $0.53 during trading hours on Tuesday, hitting $28.84. 8,230 shares of the stock traded hands, compared to its average volume of 38,416. The firm has a 50 day moving average price of $31.94 and a 200 day moving average price of $36.16. The firm has a market cap of $202.05 million, a price-to-earnings ratio of 1.78 and a beta of 0.66. Euroseas Ltd. has a fifty-two week low of $26.30 and a fifty-two week high of $50.92. The company has a current ratio of 1.65, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53.

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. This represents a $2.60 annualized dividend and a yield of 9.02%. This is a positive change from Euroseas's previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, March 11th. Euroseas's payout ratio is presently 16.10%.

About Euroseas

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.