12 West Capital Management Reports New Stake in Euroseas Ltd. (ESEA)

12 West Capital Management, managed by Joel Ramin, has reported a new position in Euroseas Ltd. (NASDAQ:ESEA) in its latest filing with the U.S. Securities and Exchange Commission. The fund has disclosed ownership of around 11.16 million shares of the company. The new stake amasses 19.6% of common shares and is passive by nature.

euroseas_logo

The fund disclosed initiating a stake in Euroseas Ltd. (NASDAQ:ESEA) on the back of company’s announcement that it entered into an agreement to sell about 11.2 million shares of its common stock in a private placement at a price of $1.34 per share to an institutional investor, according to a news releaseEuroseas Ltd. (NASDAQ:ESEA) owns and operates drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes. The company has a market cap of $58.1 million.

For the fourth quarter of 2013, Euroseas Ltd. (NASDAQ:ESEA) reported total net revenues of $9.7 million, representing a 22% decrease over total net revenues of $12.4 million during the fourth quarter of 2012. The company reported a net loss for the period of $86.1 million, compared to net loss of $2.0 million for the fourth quarter of 2012. For the full year of 2013, it reported total net revenues of $39.2 million, a 25.4% decrease compared to total net revenues of $52.5 million during the twelve months of 2012. The company reported net loss for the period of $103.4 million, compared to net loss of $13.2 million for the twelve months of 2012.

The largest shareholders of Euroseas Ltd. (NASDAQ:ESEA) include Jim Simons’ Renaissance Technologies and Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners, owning 924,800 shares and 147,900 shares, respectively.

At the end of the fourth quarter of 2013, the value of 12 West Capital’s equity portfolio was about $627.9 million. According to the fund’s most recent 13F, FleetCor Technologies Inc. (NYSE:FLT) was the most valuable holding, in which the fund disclosed owning 1.61 million shares, worth $189.09 million. It is followed by Masonite International Corp (NYSE:DOOR), in which the fund holds 1.52 million shares, valued at $91.12 million.

In February 2014, 12 West Capital disclosed a new passive stake in Zulily Inc (NASDAQ:ZU).

Disclosure: none

Recommended Reading:

Martin Whitman, Third Avenue Management Boost Stake In Tejon Ranch Company (TRC)

Activists Are Interested in BJ’s Restaurants, Inc. (BJRI)

Hedge Funds Seem to Love Aaron’s, Inc. (AAN)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!