LPL Financial LLC Cuts Holdings in Euroseas Ltd. (NASDAQ:ESEA)

LPL Financial LLC cut its position in shares of Euroseas Ltd. (NASDAQ:ESEA) by 32.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,979 shares of the shipping company’s stock after selling 2,852 shares during the quarter. LPL Financial LLC’s holdings in Euroseas were worth $216,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ESEA. Sheaff Brock Investment Advisors LLC boosted its position in Euroseas by 46.1% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 11,410 shares of the shipping company’s stock worth $413,000 after purchasing an additional 3,600 shares during the period. Exchange Traded Concepts LLC purchased a new position in Euroseas in the fourth quarter valued at about $306,000. Retireful LLC acquired a new position in shares of Euroseas during the fourth quarter worth about $222,000. Barclays PLC boosted its position in shares of Euroseas by 67.5% in the third quarter. Barclays PLC now owns 623 shares of the shipping company’s stock worth $30,000 after buying an additional 251 shares during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of Euroseas in the third quarter valued at about $248,000. 6.27% of the stock is currently owned by hedge funds and other institutional investors.

Euroseas Stock Up 0.8 %

Shares of NASDAQ ESEA opened at $31.31 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 1.65. Euroseas Ltd. has a 1 year low of $26.30 and a 1 year high of $50.92. The stock’s 50-day simple moving average is $31.08 and its 200-day simple moving average is $34.98. The firm has a market cap of $219.36 million, a price-to-earnings ratio of 1.93 and a beta of 0.66.

Euroseas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Euroseas’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 8.30%. Euroseas’s payout ratio is currently 16.10%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Euroseas in a report on Saturday, March 22nd. They issued a “buy” rating for the company.

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.