Euroseas (NASDAQ:ESEA) Director Sells $93,240.00 in Stock

Euroseas Ltd. (NASDAQ:ESEA) Director Panagiotis Kyriakopoulos sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $66.60, for a total transaction of $93,240.00. Following the completion of the sale, the director owned 13,100 shares in the company, valued at $872,460. This represents a 9.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Euroseas Price Performance

Shares of NASDAQ:ESEA traded up $1.08 during trading on Tuesday, hitting $67.25. 2,127 shares of the company were exchanged, compared to its average volume of 56,885. The business’s 50 day moving average is $72.76 and its 200-day moving average is $68.02. The company has a market capitalization of $474.78 million, a P/E ratio of 3.46 and a beta of 0.62. The company has a quick ratio of 5.38, a current ratio of 5.46 and a debt-to-equity ratio of 0.36. Euroseas Ltd. has a 1-year low of $51.00 and a 1-year high of $79.67.

Euroseas (NASDAQ:ESEA) last released its quarterly earnings data on Thursday, August 13th. The shipping company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.09 by $0.61. The company had revenue of $56.50 million for the quarter, compared to the consensus estimate of $55.98 million. Euroseas had a return on equity of 26.58% and a net margin of 59.98%. Equities analysts forecast that Euroseas Ltd. will post 15.87 earnings per share for the current year.

Euroseas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 9th were given a $0.80 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $3.20 annualized dividend and a yield of 4.8%. Euroseas’s dividend payout ratio (DPR) is currently 16.47%.

Institutional Trading of Euroseas

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of Euroseas by 4.2% in the 1st quarter. Renaissance Technologies LLC now owns 100,765 shares of the shipping company’s stock valued at $6,736,000 after purchasing an additional 4,087 shares during the last quarter. Inspire Investing LLC bought a new position in Euroseas during the first quarter worth $1,591,000. Navellier & Associates Inc. lifted its holdings in Euroseas by 94.8% in the second quarter. Navellier & Associates Inc. now owns 15,562 shares of the shipping company’s stock valued at $1,033,000 after buying an additional 7,575 shares during the period. WINTON GROUP Ltd boosted its position in Euroseas by 33.1% during the second quarter. WINTON GROUP Ltd now owns 8,036 shares of the shipping company’s stock valued at $533,000 after acquiring an additional 1,998 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Euroseas during the second quarter valued at $423,000. 6.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ESEA has been the topic of several research reports. Weiss Ratings upgraded Euroseas from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, October 16th. Freedom Broker began coverage on shares of Euroseas in a report on Tuesday, September 29th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Zacks Research downgraded shares of Euroseas from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 21st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Euroseas Company Profile

Euroseas Ltd. (NASDAQ:ESEA) is a shipping company that owns and operates containerships serving the international container transportation market. Its fleet is focused primarily on feeder and intermediate-size vessels, which transport containers between regional ports and connect smaller markets with major global shipping hubs.

The company generates revenue through time charters, voyage charters and other commercial arrangements for its vessels. Euroseas’ services support the movement of manufactured goods, consumer products, raw materials and other containerized cargo across international trade routes.

Euroseas is headquartered in Athens, Greece, and serves customers and markets worldwide through its internationally deployed fleet.