Inspire Investing LLC Takes $913,000 Position in Euroseas Ltd. (NASDAQ:ESEA)

Inspire Investing LLC bought a new stake in Euroseas Ltd. (NASDAQ:ESEA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,698 shares of the shipping company's stock, valued at approximately $913,000. Inspire Investing LLC owned 0.27% of Euroseas as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ESEA. Squarepoint Ops LLC increased its holdings in Euroseas by 42.5% in the second quarter. Squarepoint Ops LLC now owns 12,135 shares of the shipping company's stock worth $424,000 after purchasing an additional 3,617 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Euroseas by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company's stock worth $3,403,000 after buying an additional 2,877 shares during the period. Acadian Asset Management LLC lifted its position in shares of Euroseas by 2.2% during the 2nd quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company's stock valued at $2,559,000 after acquiring an additional 1,602 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in Euroseas during the second quarter worth $248,000. Finally, Beacon Capital Management LLC bought a new position in Euroseas during the first quarter worth $36,000. Institutional investors and hedge funds own 6.27% of the company's stock.

Euroseas Stock Down 1.7 %

ESEA stock traded down $0.74 during midday trading on Tuesday, reaching $42.39. 32,260 shares of the company's stock traded hands, compared to its average volume of 41,403. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average price is $44.84 and its 200-day moving average price is $39.68. Euroseas Ltd. has a 52 week low of $22.50 and a 52 week high of $50.92. The company has a market cap of $296.98 million, a price-to-earnings ratio of 2.78 and a beta of 0.85.

Euroseas (NASDAQ:ESEA - Get Free Report) last posted its earnings results on Tuesday, August 6th. The shipping company reported $4.92 EPS for the quarter, topping the consensus estimate of $2.49 by $2.43. Euroseas had a net margin of 57.36% and a return on equity of 38.07%. The company had revenue of $60.29 million during the quarter, compared to the consensus estimate of $49.33 million. As a group, sell-side analysts forecast that Euroseas Ltd. will post 14.99 earnings per share for the current fiscal year.

Euroseas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Monday, September 9th were issued a $0.60 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.66%. Euroseas's dividend payout ratio is presently 15.76%.

Analysts Set New Price Targets

ESEA has been the topic of several research reports. Noble Financial upgraded shares of Euroseas to a "strong-buy" rating in a report on Wednesday, July 10th. StockNews.com raised Euroseas from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Alliance Global Partners assumed coverage on Euroseas in a report on Monday, September 9th. They issued a "buy" rating and a $60.00 price target on the stock.

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.