Boothbay Fund Management LLC Acquires New Stake in Costamare Inc. (NYSE:CMRE)

Boothbay Fund Management LLC bought a new position in Costamare Inc. (NYSE:CMRE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,965 shares of the shipping company’s stock, valued at approximately $257,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC increased its position in shares of Costamare by 291.1% in the third quarter. Barclays PLC now owns 59,016 shares of the shipping company’s stock worth $928,000 after purchasing an additional 43,925 shares during the last quarter. Principal Financial Group Inc. grew its stake in Costamare by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,638 shares of the shipping company’s stock worth $843,000 after buying an additional 6,461 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company’s stock worth $13,845,000 after buying an additional 170,412 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Costamare by 4.2% during the 4th quarter. New York State Common Retirement Fund now owns 223,565 shares of the shipping company’s stock valued at $2,873,000 after buying an additional 9,100 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Costamare by 33.3% during the 4th quarter. JPMorgan Chase & Co. now owns 452,504 shares of the shipping company’s stock worth $5,815,000 after acquiring an additional 112,938 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Performance

Costamare stock opened at $9.57 on Friday. The company has a market capitalization of $1.15 billion, a PE ratio of 3.92 and a beta of 1.11. Costamare Inc. has a twelve month low of $8.11 and a twelve month high of $17.58. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $9.62 and a two-hundred day simple moving average of $11.66.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. Research analysts expect that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Thursday, April 17th will be given a $0.115 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.46 annualized dividend and a dividend yield of 4.81%. Costamare’s dividend payout ratio is 18.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CMRE shares. Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com started coverage on Costamare in a report on Tuesday. They set a “hold” rating on the stock.

Costamare Company Profile