Costamare Inc. (CMRE) Stake Boosted by Algert Global LLC
Algert Global LLC boosted its position in Costamare Inc. (NYSE:CMRE) by 1,482.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 330,724 shares of the shipping company’s stock after buying an additional 309,820 shares during the period. Costamare makes up 0.7% of Algert Global LLC’s portfolio, making the stock its 21st largest position. Algert Global LLC owned approximately 0.34% of Costamare worth $2,418,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its position in Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock valued at $2,417,000 after buying an additional 3,614 shares during the last quarter. Renaissance Technologies LLC bought a new position in Costamare during the fourth quarter valued at about $822,000. Guggenheim Capital LLC increased its position in Costamare by 86.1% in the fourth quarter. Guggenheim Capital LLC now owns 288,031 shares of the shipping company’s stock valued at $1,613,000 after buying an additional 133,288 shares during the last quarter. Teachers Advisors LLC increased its position in Costamare by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 285,279 shares of the shipping company’s stock valued at $1,598,000 after buying an additional 3,875 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Costamare during the first quarter valued at about $139,000. 19.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Costamare Inc. (CMRE) traded down 2.21% on Thursday, reaching $6.20. 519,325 shares of the company were exchanged. The stock has a market capitalization of $657.14 million, a PE ratio of 15.46 and a beta of 2.21. Costamare Inc. has a 1-year low of $5.07 and a 1-year high of $9.54. The company has a 50-day moving average price of $6.80 and a 200 day moving average price of $6.65.
Costamare (NYSE:CMRE) last issued its quarterly earnings data on Tuesday, July 25th. The shipping company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The business had revenue of $104.10 million for the quarter, compared to the consensus estimate of $104.23 million. During the same period last year, the business earned $0.44 EPS. The firm’s revenue was down 12.5% compared to the same quarter last year. On average, analysts forecast that Costamare Inc. will post $0.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 24th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date was Thursday, July 20th. Costamare’s payout ratio is 105.27%.
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A number of brokerages have recently commented on CMRE. Stifel Nicolaus set a $7.00 target price on shares of Costamare and gave the company a “hold” rating in a research report on Sunday, May 28th. BidaskClub cut shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. TheStreet upgraded shares of Costamare from a “d+” rating to a “c” rating in a research report on Friday, April 28th. Finally, Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Costamare currently has an average rating of “Hold” and an average target price of $8.50.
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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