Tidal Investments LLC Decreases Stock Position in Costamare Inc. (NYSE:CMRE)

Tidal Investments LLC decreased its position in Costamare Inc. (NYSE:CMRE) by 54.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,415 shares of the shipping company’s stock after selling 61,984 shares during the quarter. Tidal Investments LLC’s holdings in Costamare were worth $808,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CMRE. Allspring Global Investments Holdings LLC increased its stake in Costamare by 42.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 57,777 shares of the shipping company’s stock worth $949,000 after buying an additional 17,350 shares during the period. Principal Financial Group Inc. grew its stake in shares of Costamare by 9.9% during the second quarter. Principal Financial Group Inc. now owns 44,085 shares of the shipping company’s stock valued at $724,000 after acquiring an additional 3,986 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Costamare by 1,322.0% during the second quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock valued at $24,119,000 after acquiring an additional 1,366,344 shares in the last quarter. American Century Companies Inc. increased its position in shares of Costamare by 62.9% during the second 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. Finally, Federated Hermes Inc. lifted its stake in shares of 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 acquiring an additional 399,860 shares in the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMRE. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group restated a “hold” rating and issued a $13.00 price target on shares of Costamare in a research note on Friday, November 1st.

Costamare Stock Performance

Shares of CMRE stock opened at $12.39 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 4.12 and a beta of 1.34. Costamare Inc. has a one year low of $10.14 and a one year high of $17.58. The company’s 50-day simple moving average is $13.69 and its 200-day simple moving average is $14.42. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same period in the prior year, the company posted $0.46 EPS. Equities analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is presently 15.28%.

About Costamare