Los Angeles Capital Management LLC Boosts Stake in Costamare Inc. (NYSE:CMRE)

Los Angeles Capital Management LLC raised its position in Costamare Inc. (NYSE:CMRE) by 9.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,579 shares of the shipping company’s stock after purchasing an additional 14,198 shares during the quarter. Los Angeles Capital Management LLC owned 0.14% of Costamare worth $2,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC grew its stake in shares of Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares in the last quarter. CWM LLC grew its position in Costamare by 53.6% in the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock valued at $71,000 after acquiring an additional 1,502 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in Costamare during the second quarter worth about $80,000. Blue Trust Inc. lifted its position in shares of Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after purchasing an additional 7,113 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Costamare in the first quarter valued at approximately $132,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Down 0.8 %

Shares of Costamare stock opened at $13.99 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 52-week low of $8.62 and a 52-week high of $17.58. The company has a market capitalization of $1.65 billion, a P/E ratio of 4.65 and a beta of 1.37. The company has a 50 day moving average of $14.20 and a 200 day moving average of $14.51.

Costamare (NYSE:CMRE) last issued its earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $544.64 million during 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 quarter in the previous year, the firm posted $0.46 earnings per share. As a group, research analysts forecast that Costamare Inc. will post 2.83 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm 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. This represents a $0.46 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is presently 15.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMRE shares. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th.

Costamare Company Profile