BayBridge Capital Group LLC Has $647,000 Position in Euroseas Ltd. (NASDAQ:ESEA)

BayBridge Capital Group LLC grew its holdings in Euroseas Ltd. (NASDAQ:ESEA) by 8.7% in the third quarter, Holdings Channel.com reports. The firm owned 13,244 shares of the shipping company’s stock after purchasing an additional 1,057 shares during the period. BayBridge Capital Group LLC’s holdings in Euroseas were worth $647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Beacon Capital Management LLC acquired a new position in Euroseas during the first quarter valued at $36,000. Redhawk Wealth Advisors Inc. purchased a new position in Euroseas during the 2nd quarter valued at about $248,000. Lazard Asset Management LLC increased its holdings in shares of Euroseas by 3,282.3% in the 1st quarter. Lazard Asset Management LLC now owns 8,219 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 7,976 shares during the period. Squarepoint Ops LLC lifted its position in shares of 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. Finally, Janney Montgomery Scott LLC lifted its position in shares of Euroseas by 18.8% in the first quarter. Janney Montgomery Scott LLC now owns 17,053 shares of the shipping company’s stock worth $611,000 after purchasing an additional 2,693 shares in the last quarter. Institutional investors and hedge funds own 6.27% of the company’s stock.

Euroseas Stock Down 1.4 %

Shares of Euroseas stock opened at $41.94 on Friday. The firm has a market cap of $293.83 million, a price-to-earnings ratio of 2.75 and a beta of 0.85. The stock has a 50-day simple moving average of $44.79 and a 200-day simple moving average of $40.01. Euroseas Ltd. has a 52-week low of $22.50 and a 52-week high of $50.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.46 and a quick ratio of 1.41.

Euroseas (NASDAQ:ESEA) last issued its quarterly earnings data on Tuesday, August 6th. The shipping company reported $4.92 earnings per share for the quarter, beating the consensus estimate of $2.49 by $2.43. The firm had revenue of $60.29 million for the quarter, compared to analyst estimates of $49.33 million. Euroseas had a net margin of 57.36% and a return on equity of 38.07%. On average, equities research analysts expect that Euroseas Ltd. will post 14.99 earnings per share for the current fiscal year.

Euroseas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Monday, September 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend was Monday, September 9th. Euroseas’s payout ratio is presently 15.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ESEA shares. Noble Financial raised shares of Euroseas to a “strong-buy” rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of Euroseas from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Alliance Global Partners assumed coverage on shares of Euroseas in a research note on Monday, September 9th. They issued a “buy” rating and a $60.00 price target on the stock.

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.