GAMMA Investing LLC Buys 7,540 Shares of Costamare Inc. (NYSE:CMRE)

GAMMA Investing LLC raised its holdings in shares of Costamare Inc. (NYSE:CMRE) by 525.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,974 shares of the shipping company’s stock after purchasing an additional 7,540 shares during the period. GAMMA Investing LLC’s holdings in Costamare were worth $912,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMRE. Bridgeway Capital Management LLC raised its position in shares of Costamare by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,546,489 shares of the shipping company’s stock worth $19,872,000 after acquiring an additional 29,354 shares in the last quarter. American Century Companies Inc. raised its position in shares of Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company’s stock worth $13,845,000 after acquiring an additional 170,412 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Costamare by 10.6% in the 4th quarter. Federated Hermes Inc. now owns 817,359 shares of the shipping company’s stock worth $10,503,000 after acquiring an additional 78,377 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Costamare by 0.6% in the 4th quarter. Ameriprise Financial Inc. now owns 780,662 shares of the shipping company’s stock worth $10,032,000 after acquiring an additional 4,791 shares in the last quarter. Finally, Denali Advisors LLC raised its position in shares of Costamare by 1.7% in the 4th quarter. Denali Advisors LLC now owns 508,195 shares of the shipping company’s stock worth $6,530,000 after acquiring an additional 8,300 shares in the last quarter. Institutional investors own 58.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on Costamare in a research report on Thursday, May 15th. They issued a “hold” rating for the company.

Costamare Stock Performance

Shares of CMRE opened at $9.16 on Tuesday. The business’s fifty day simple moving average is $8.78 and its two-hundred day simple moving average is $10.48. 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 Inc. has a 12 month low of $6.63 and a 12 month high of $17.58. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 3.75 and a beta of 1.21.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. The firm had revenue of $440.54 million for the quarter, compared to the consensus estimate of $330.14 million. Costamare had a return on equity of 14.03% and a net margin of 15.14%. Research analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Thursday, April 17th were paid a $0.115 dividend. The ex-dividend date was Thursday, April 17th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 5.02%. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

About Costamare