Trade Report: The Algert Global LLC Takes Position in Costamare Inc. (CMRE)

The Algert Global LLC Takes Position in Costamare Inc. (CMRE)

Algert Global LLC acquired a new position in shares of Costamare Inc. (NYSE:CMRE) during the third quarter, Holdings Channel reports. The fund acquired 36,014 shares of the company’s stock, valued at approximately $329,000.

Several other large investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Costamare during the first quarter worth $1,078,000. Creative Planning boosted its stake in shares of Costamare by 1,572.9% in the second quarter. Creative Planning now owns 23,420 shares of the company’s stock worth $180,000 after buying an additional 22,020 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of Costamare during the second quarter worth $1,378,000. Quantitative Systematic Strategies LLC boosted its stake in shares of Costamare by 60.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,563 shares of the company’s stock worth $156,000 after buying an additional 6,584 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Costamare during the second quarter worth $368,000. 15.40% of the stock is owned by institutional investors and hedge funds.

Costamare Inc. (NYSE:CMRE) traded down 0.96% on Friday, reaching $7.23. The company had a trading volume of 95,602 shares. The stock has a market capitalization of $560.01 million, a P/E ratio of 4.98 and a beta of 2.04. The firm has a 50-day moving average of $7.05 and a 200-day moving average of $8.56. Costamare Inc. has a 12 month low of $6.01 and a 12 month high of $12.45.

Costamare (NYSE:CMRE) last posted its earnings results on Monday, October 24th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Costamare had a return on equity of 14.63% and a net margin of 27.28%. The firm had revenue of $115.50 million for the quarter, compared to analyst estimates of $114.20 million. During the same quarter in the prior year, the company earned $0.46 EPS. Costamare’s revenue was down 7.4% on a year-over-year basis. On average, equities research analysts expect that Costamare Inc. will post $1.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Friday, October 21st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend was Wednesday, October 19th. Costamare’s payout ratio is currently 27.40%.

A number of equities research analysts have recently weighed in on CMRE shares. JPMorgan Chase & Co. raised Costamare from an “underweight” rating to a “neutral” rating and set a $12.00 price objective for the company in a research note on Monday, August 1st. Zacks Investment Research cut Costamare from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Barclays PLC dropped their price objective on Costamare from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, October 3rd. Finally, Stifel Nicolaus cut Costamare from a “hold” rating to a “sell” rating and dropped their price objective for the company from $10.00 to $5.00 in a research note on Tuesday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $9.55.

Costamare Company Profile

Costamare Inc (Costamare) is an international owner of containerships. The Company provides marine transportation services by chartering its container vessels to liner operators under long, medium and short-term time charters. The Company has a fleet of approximately 70 containerships with a total capacity of over 467,000 20-foot equivalent unit (TEU), including approximately 10 newbuilds on order.

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