Parallel Advisors LLC Buys 2,696 Shares of Costamare Inc. (NYSE:CMRE)

Parallel Advisors LLC increased its stake in Costamare Inc. (NYSE:CMREFree Report) by 197.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,059 shares of the shipping company’s stock after buying an additional 2,696 shares during the period. Parallel Advisors LLC’s holdings in Costamare were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Costamare by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,069,284 shares of the shipping company’s stock worth $73,591,000 after acquiring an additional 107,756 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Costamare by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 470,687 shares of the shipping company’s stock worth $4,900,000 after purchasing an additional 14,126 shares during the period. Denali Advisors LLC raised its holdings in Costamare by 8.0% in the fourth quarter. Denali Advisors LLC now owns 450,495 shares of the shipping company’s stock worth $4,690,000 after purchasing an additional 33,400 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Costamare by 6.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 221,727 shares of the shipping company’s stock valued at $2,308,000 after buying an additional 13,450 shares during the period. Finally, Kendall Capital Management boosted its holdings in shares of Costamare by 25.0% during the 4th quarter. Kendall Capital Management now owns 214,614 shares of the shipping company’s stock valued at $2,234,000 after buying an additional 42,902 shares in the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Stock Performance

Shares of CMRE stock opened at $15.47 on Friday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 5.95 and a beta of 1.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.81 and a current ratio of 1.91. Costamare Inc. has a one year low of $8.54 and a one year high of $16.46. The company’s 50-day moving average is $12.94 and its 200 day moving average is $11.48.

Costamare (NYSE:CMREGet Free Report) last issued its earnings results on Friday, May 10th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $475.43 million for the quarter, compared to the consensus estimate of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. Sell-side analysts expect that Costamare Inc. will post 3.08 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Friday, April 19th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $0.46 annualized dividend and a yield of 2.97%. Costamare’s dividend payout ratio is 17.83%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Jefferies Financial Group raised their target price on shares of Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, StockNews.com cut Costamare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st.

Read Our Latest Stock Report on Costamare

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Institutional Ownership by Quarter for Costamare (NYSE:CMRE)

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