Navellier & Associates Inc. Buys New Holdings in Costamare Inc. (NYSE:CMRE)

Navellier & Associates Inc. bought a new position in Costamare Inc. (NYSE:CMRE) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,957 shares of the shipping company’s stock, valued at approximately $408,000.

Other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of Costamare by 1,322.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock valued at $24,119,000 after acquiring an additional 1,366,344 shares in the last quarter. Federated Hermes Inc. lifted its stake in Costamare by 25,731.0% during the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock worth $6,595,000 after purchasing an additional 399,860 shares during the period. Marshall Wace LLP boosted its holdings in Costamare by 985.5% during the second quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock valued at $5,875,000 after purchasing an additional 324,618 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Costamare by 20.6% in the 1st quarter. Bridgeway Capital Management LLC now owns 1,583,997 shares of the shipping company’s stock valued at $17,978,000 after purchasing an additional 270,168 shares during the period. Finally, Foundry Partners LLC acquired a new position in shares of Costamare in the 3rd quarter worth approximately $4,032,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMRE. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Costamare Trading Down 2.6 %

Shares of CMRE opened at $14.06 on Friday. 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 cap of $1.65 billion, a price-to-earnings ratio of 4.67 and a beta of 1.37. The stock has a fifty day moving average price of $14.36 and a two-hundred day moving average price of $14.59. Costamare Inc. has a 52-week low of $9.16 and a 52-week high of $17.58.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The business had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same period in the previous year, the business posted $0.46 earnings per share. Analysts predict that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.27%. Costamare’s payout ratio is currently 15.28%.

Costamare Profile