Costamare Inc. $CMRE Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its holdings in shares of Costamare Inc. (NYSE:CMRE) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,835,163 shares of the shipping company’s stock after selling 23,980 shares during the quarter. Acadian Asset Management LLC owned approximately 1.53% of Costamare worth $16,695,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Quarry LP grew its position in Costamare by 21,575.0% during the first quarter. Quarry LP now owns 3,468 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 3,452 shares during the period. New Age Alpha Advisors LLC raised its position in shares of Costamare by 89.4% in the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company’s stock valued at $73,000 after purchasing an additional 3,489 shares in the last quarter. Ballentine Partners LLC bought a new position in Costamare during the 2nd quarter valued at $128,000. Aigen Investment Management LP acquired a new position in Costamare in the first quarter worth about $150,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Costamare in the 2nd quarter valued at approximately $151,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Performance

Shares of CMRE stock opened at $14.19 on Wednesday. The firm has a market cap of $1.71 billion, a P/E ratio of 6.01 and a beta of 1.38. The stock’s 50-day moving average is $12.13 and its two-hundred day moving average is $10.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.68 and a quick ratio of 1.64. Costamare Inc. has a fifty-two week low of $6.63 and a fifty-two week high of $14.85.

Costamare (NYSE:CMRE) last posted its earnings results on Tuesday, November 4th. The shipping company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.70 by $0.11. The company had revenue of $195.84 million during the quarter, compared to the consensus estimate of $197.92 million. Costamare had a net margin of 17.10% and a return on equity of 13.67%. Analysts predict that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st were given a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.2%. Costamare’s dividend payout ratio (DPR) is currently 18.40%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Costamare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Jefferies Financial Group lifted their target price on Costamare from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Costamare in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.00.

Costamare Company Profile