Cubist Systematic Strategies LLC Sells 4,253 Shares of Euroseas Ltd. (NASDAQ:ESEA)

Cubist Systematic Strategies LLC reduced its holdings in shares of Euroseas Ltd. (NASDAQ:ESEA) by 39.7% during the second quarter, HoldingsChannel reports. The firm owned 6,471 shares of the shipping company’s stock after selling 4,253 shares during the period. Cubist Systematic Strategies LLC’s holdings in Euroseas were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in shares of Euroseas by 3.0% during the second quarter. Renaissance Technologies LLC now owns 97,478 shares of the shipping company’s stock valued at $3,403,000 after purchasing an additional 2,877 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Euroseas by 2.2% during the second quarter. Acadian Asset Management LLC now owns 73,365 shares of the shipping company’s stock valued at $2,559,000 after purchasing an additional 1,602 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in Euroseas by 51.4% in the fourth quarter. Quadrature Capital Ltd now owns 46,007 shares of the shipping company’s stock valued at $1,434,000 after acquiring an additional 15,618 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in Euroseas in the first quarter valued at about $1,300,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Euroseas by 18.8% in the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock valued at $611,000 after acquiring an additional 2,693 shares during the period. 6.27% of the stock is owned by institutional investors.

Euroseas Stock Down 0.4 %

NASDAQ ESEA opened at $43.13 on Tuesday. The stock’s 50-day moving average price is $44.84 and its 200-day moving average price is $39.68. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.52. Euroseas Ltd. has a 52 week low of $22.50 and a 52 week high of $50.92. The company has a market capitalization of $302.17 million, a P/E ratio of 2.83 and a beta of 0.85.

Euroseas (NASDAQ:ESEA) last released its earnings results on Tuesday, August 6th. The shipping company reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $2.43. Euroseas had a return on equity of 38.07% and a net margin of 57.36%. The firm had revenue of $60.29 million during the quarter, compared to analysts’ expectations of $49.33 million. On average, equities research analysts predict that Euroseas Ltd. will post 14.99 earnings per share for the current year.

Euroseas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.56%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas’s dividend payout ratio is currently 15.76%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ESEA. Noble Financial raised Euroseas to a “strong-buy” rating in a report on Wednesday, July 10th. Alliance Global Partners began coverage on Euroseas in a report on Monday, September 9th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, StockNews.com raised Euroseas from a “hold” rating to a “buy” rating in a report on Saturday.

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.