Costamare Inc. (NYSE:CMRE) Position Lessened by Tidal Investments LLC

Tidal Investments LLC reduced its stake in shares of Costamare Inc. (NYSE:CMRE) by 54.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,415 shares of the shipping company’s stock after selling 61,984 shares during the quarter. Tidal Investments LLC’s holdings in Costamare were worth $808,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. bought a new position in shares of Costamare during the third quarter worth about $886,000. Foundry Partners LLC acquired a new position in Costamare during the 3rd quarter valued at about $4,032,000. Federated Hermes Inc. boosted its stake in Costamare by 25,731.0% during the 2nd quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 399,860 shares during the period. Acadian Asset Management LLC grew its position in Costamare by 1,322.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock worth $24,119,000 after purchasing an additional 1,366,344 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Costamare by 5.2% in the second quarter. Creative Planning now owns 55,067 shares of the shipping company’s stock valued at $905,000 after purchasing an additional 2,703 shares during the period. 58.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Costamare Stock Down 0.2 %

CMRE stock opened at $12.39 on Friday. The firm’s 50-day moving average is $13.69 and its two-hundred day moving average is $14.42. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 4.12 and a beta of 1.34. Costamare Inc. has a 52 week low of $10.14 and a 52 week high of $17.58. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last announced its earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04. The firm had revenue of $544.64 million for the quarter, compared to analysts’ expectations of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, analysts forecast that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 annualized dividend and a dividend yield of 3.71%. Costamare’s dividend payout ratio (DPR) is 15.28%.

Costamare Profile