Cavalier Investments LLC bought a new stake in COSTAMARE INC/SH (NYSE:CMRE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 75,000 shares of the shipping company’s stock, valued at approximately $715,000. Cavalier Investments LLC owned about 0.06% of COSTAMARE INC/SH as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Commonwealth Equity Services LLC raised its stake in COSTAMARE INC/SH by 20.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,700 shares of the shipping company’s stock valued at $107,000 after purchasing an additional 3,000 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of COSTAMARE INC/SH by 55.7% in the 3rd quarter. California Public Employees Retirement System now owns 23,490 shares of the shipping company’s stock worth $143,000 after purchasing an additional 8,400 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of COSTAMARE INC/SH in the 4th quarter worth about $178,000. Russell Investments Group Ltd. bought a new stake in shares of COSTAMARE INC/SH in the 3rd quarter worth about $272,000. Finally, American International Group Inc. lifted its position in COSTAMARE INC/SH by 4.3% during the 4th quarter. American International Group Inc. now owns 32,346 shares of the shipping company’s stock worth $308,000 after buying an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors own 21.24% of the company’s stock.
NYSE:CMRE opened at $7.54 on Friday. COSTAMARE INC/SH has a 1-year low of $4.85 and a 1-year high of $10.85. The company has a current ratio of 0.74, a quick ratio of 0.70 and a debt-to-equity ratio of 0.94. The firm has a fifty day simple moving average of $9.06 and a 200 day simple moving average of $7.53. The stock has a market capitalization of $908.83 million, a PE ratio of 13.00 and a beta of 2.35.
COSTAMARE INC/SH (NYSE:CMRE) last announced its quarterly earnings results on Tuesday, January 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. COSTAMARE INC/SH had a return on equity of 10.23% and a net margin of 20.71%. The business had revenue of $128.52 million during the quarter, compared to the consensus estimate of $124.47 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 23.7% on a year-over-year basis. On average, equities analysts predict that COSTAMARE INC/SH will post 1.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Tuesday, January 21st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Friday, January 17th. COSTAMARE INC/SH’s dividend payout ratio is currently 43.96%.
A number of research analysts have issued reports on CMRE shares. ValuEngine downgraded shares of COSTAMARE INC/SH from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 23rd. Zacks Investment Research raised COSTAMARE INC/SH from a “hold” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research note on Friday, January 24th. TheStreet raised COSTAMARE INC/SH from a “c” rating to a “b” rating in a research note on Wednesday, December 11th. Finally, Citigroup cut COSTAMARE INC/SH from a “neutral” rating to a “sell” rating and increased their target price for the stock from $6.50 to $7.50 in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.17.
About COSTAMARE INC/SH
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.
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