Zacks Investment Management grew its position in Costamare Inc. (NYSE:CMRE – Free Report) by 14.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,988 shares of the shipping company’s stock after purchasing an additional 2,420 shares during the quarter. Zacks Investment Management’s holdings in Costamare were worth $298,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC raised its stake in Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after acquiring an additional 1,700 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Costamare during the 3rd quarter worth $35,000. Quarry LP raised its stake in Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after acquiring an additional 2,003 shares in the last quarter. CWM LLC raised its stake in Costamare by 53.6% during the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after acquiring an additional 1,502 shares in the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in Costamare during the 2nd quarter worth $80,000. 58.08% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price objective on shares of Costamare in a research report on Friday, November 1st.
Costamare Trading Up 1.0 %
Shares of Costamare stock opened at $13.36 on Wednesday. Costamare Inc. has a 1 year low of $9.16 and a 1 year high of $17.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. The company has a market capitalization of $1.57 billion, a P/E ratio of 4.44 and a beta of 1.34. The company’s fifty day moving average is $13.99 and its two-hundred day moving average is $14.54.
Costamare (NYSE:CMRE – Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The company had revenue of $544.64 million for the quarter, compared to the consensus estimate of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same period last year, the firm posted $0.46 EPS. Analysts forecast that Costamare Inc. will post 2.83 earnings per share for the current year.
Costamare Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s payout ratio is 15.28%.
About Costamare
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