Perritt Capital Management Inc Has $525,000 Holdings in Euroseas Ltd. (NASDAQ:ESEA)

Perritt Capital Management Inc lowered its stake in shares of Euroseas Ltd. (NASDAQ:ESEA) by 6.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 14,499 shares of the shipping company’s stock after selling 1,000 shares during the period. Perritt Capital Management Inc owned approximately 0.21% of Euroseas worth $525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new position in shares of Euroseas in the third quarter valued at approximately $248,000. Retireful LLC bought a new position in Euroseas during the 4th quarter valued at $222,000. Exchange Traded Concepts LLC purchased a new position in Euroseas during the 4th quarter worth $306,000. Sheaff Brock Investment Advisors LLC grew its stake in shares of Euroseas by 46.1% in 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, Arrowstreet Capital Limited Partnership grew its stake in shares of Euroseas by 389.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 53,840 shares of the shipping company’s stock worth $1,949,000 after acquiring an additional 42,830 shares in the last quarter. 6.27% of the stock is owned by institutional investors.

Euroseas Stock Performance

Shares of Euroseas stock opened at $31.81 on Wednesday. The business’s fifty day simple moving average is $32.53 and its 200 day simple moving average is $37.44. 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 Ltd. has a 12 month low of $28.36 and a 12 month high of $50.92. The firm has a market capitalization of $222.86 million, a P/E ratio of 1.96 and a beta of 0.72.

Euroseas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 8.17%. This is a boost from Euroseas’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, March 11th. Euroseas’s payout ratio is presently 16.10%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Euroseas in a report on Saturday, March 22nd. They set a “buy” rating 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.