252,705 Shares in Costamare Inc. (CMRE) Acquired by Systematic Financial Management LP
Systematic Financial Management LP acquired a new stake in shares of Costamare Inc. (NYSE:CMRE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 252,705 shares of the shipping company’s stock, valued at approximately $1,847,000. Systematic Financial Management LP owned 0.26% of Costamare at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Costamare by 15,719.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,601,704 shares of the shipping company’s stock valued at $19,019,000 after purchasing an additional 2,585,258 shares during the period. Morgan Stanley raised its position in shares of Costamare by 13.8% during the 1st quarter. Morgan Stanley now owns 1,956,634 shares of the shipping company’s stock valued at $13,032,000 after purchasing an additional 236,786 shares during the period. Global X Management Co. LLC raised its position in shares of Costamare by 4.8% during the 2nd quarter. Global X Management Co. LLC now owns 1,491,375 shares of the shipping company’s stock valued at $10,902,000 after purchasing an additional 67,642 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Costamare by 16.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 808,691 shares of the shipping company’s stock valued at $5,386,000 after purchasing an additional 113,445 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Costamare by 125.2% during the 2nd quarter. Acadian Asset Management LLC now owns 685,085 shares of the shipping company’s stock valued at $5,009,000 after purchasing an additional 380,884 shares during the period. Hedge funds and other institutional investors own 26.96% of the company’s stock.
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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. Stifel Nicolaus set a $7.00 price target on shares of Costamare and gave the company a “hold” rating in a report on Sunday, May 28th. BidaskClub downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, ValuEngine upgraded shares of Costamare from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.50.
Shares of Costamare Inc. (NYSE CMRE) opened at 6.04 on Thursday. The firm has a 50-day moving average of $6.35 and a 200-day moving average of $6.72. Costamare Inc. has a one year low of $5.07 and a one year high of $9.54. The company has a market capitalization of $640.18 million, a P/E ratio of 15.06 and a beta of 2.22.
Costamare (NYSE:CMRE) last announced its quarterly earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. Costamare had a net margin of 12.70% and a return on equity of 8.94%. The firm had revenue of $104.10 million for the quarter, compared to the consensus estimate of $104.23 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. Analysts forecast that Costamare Inc. will post $0.82 earnings per share for the current year.
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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