12 West Capital Starts Euroseas Stake ~ market folly

Wednesday, March 26, 2014

12 West Capital Starts Euroseas Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of Euroseas (ESEA).  Per the filing, 12 West now owns 19.6% of ESEA with over 11.1 million shares.

This is a newly disclosed equity position as they didn't hold any shares at the end of 2013.  The filing was made due to activity on March 14th. 

You can view other recent portfolio activity from 12 West Capital here.

Per Google Finance, Euroseas is "a provider of worldwide ocean-going transportation services. The Company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers. The Company also owns and operates containerships and multipurpose vessels that transport dry and refrigerated containerized cargoes, including manufactured products and perishables."

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