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

Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

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!