Perritt Capital Management Inc Sells 1,000 Shares of Euroseas Ltd. (NASDAQ:ESEA)

Perritt Capital Management Inc cut its position in Euroseas Ltd. (NASDAQ:ESEA) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,499 shares of the shipping company’s stock after selling 1,000 shares during the quarter. Perritt Capital Management Inc’s holdings in Euroseas were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Barclays PLC increased 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 acquiring an additional 251 shares during the last quarter. Geode Capital Management LLC bought a new position in Euroseas during the third quarter worth about $248,000. Retireful LLC purchased a new position in shares of Euroseas in the fourth quarter worth about $222,000. Exchange Traded Concepts LLC bought a new stake in shares of Euroseas in the fourth quarter valued at approximately $306,000. Finally, Sheaff Brock Investment Advisors LLC lifted 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 valued at $413,000 after buying an additional 3,600 shares in the last quarter. 6.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Euroseas in a research note on Saturday, March 22nd. They issued a “buy” rating for the company.

Euroseas Stock Up 3.8 %

Shares of NASDAQ ESEA opened at $31.81 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 1.65 and a debt-to-equity ratio of 0.53. The company has a market cap of $222.86 million, a P/E ratio of 1.96 and a beta of 0.72. Euroseas Ltd. has a 52 week low of $28.36 and a 52 week high of $50.92. The business has a 50-day simple moving average of $32.53 and a two-hundred day simple moving average of $37.44.

Euroseas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.65 dividend. 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 dividend yield of 8.17%. The ex-dividend date was Tuesday, March 11th. Euroseas’s dividend payout ratio (DPR) is 16.10%.

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.