Susquehanna Portfolio Strategies LLC Sells 13,523 Shares of Costamare Inc. (NYSE:CMRE)

Susquehanna Portfolio Strategies LLC lessened its position in Costamare Inc. (NYSE:CMRE) by 55.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,783 shares of the shipping company’s stock after selling 13,523 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Costamare were worth $177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased 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 purchasing an additional 1,366,344 shares during the last quarter. Federated Hermes Inc. boosted its stake in Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock worth $6,595,000 after buying an additional 399,860 shares in the last quarter. Marshall Wace LLP grew its position 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 acquiring an additional 324,618 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Costamare by 20.6% during the first quarter. Bridgeway Capital Management LLC now owns 1,583,997 shares of the shipping company’s stock worth $17,978,000 after acquiring an additional 270,168 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Costamare by 62.9% in the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock worth $10,216,000 after acquiring an additional 239,970 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Price Performance

Shares of Costamare stock opened at $15.53 on Monday. The company’s fifty day simple moving average is $14.05 and its two-hundred day simple moving average is $13.83. Costamare Inc. has a 12-month low of $8.54 and a 12-month high of $17.58. The firm has a market cap of $1.83 billion, a PE ratio of 6.02 and a beta of 1.37. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $515.42 million for the quarter, compared to the consensus estimate of $380.41 million. Costamare had a return on equity of 13.63% and a net margin of 19.63%. As a group, equities analysts expect that Costamare Inc. will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

CMRE has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. StockNews.com raised Costamare from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus raised their price target on Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th.

About Costamare