Freedom Investment Management Inc. Takes Position in Costamare Inc. (NYSE:CMRE)

Freedom Investment Management Inc. bought a new position in Costamare Inc. (NYSE:CMRE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 34,766 shares of the shipping company’s stock, valued at approximately $547,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Unison Advisors LLC raised its stake in shares of Costamare by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock valued at $1,359,000 after buying an additional 854 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Costamare by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock valued at $1,225,000 after acquiring an additional 990 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Costamare by 7.6% in the third quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock valued at $224,000 after acquiring an additional 1,012 shares during the period. CWM LLC boosted its position in Costamare by 53.6% in the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,502 shares in the last quarter. Finally, nVerses Capital LLC grew its stake in shares of 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 purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Trading Down 0.9 %

Shares of NYSE:CMRE opened at $13.19 on Friday. The business’s 50 day moving average price is $14.33 and its 200-day moving average price is $14.60. Costamare Inc. has a 1 year low of $9.16 and a 1 year high of $17.58. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 4.44 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business 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 earnings per share. On average, equities research analysts forecast that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.49%. Costamare’s payout ratio is currently 15.28%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CMRE shares. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price target on shares of Costamare in a report on Friday, November 1st. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Company Profile