American International Group Inc. Raises Position in Costamare Inc. (NYSE:CMRE)
American International Group Inc. boosted its position in shares of Costamare Inc. (NYSE:CMRE) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,419 shares of the shipping company’s stock after buying an additional 1,202 shares during the period. American International Group Inc.’s holdings in Costamare were worth $109,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMRE. Acadian Asset Management LLC raised its position in shares of Costamare by 359.7% in the first quarter. Acadian Asset Management LLC now owns 304,201 shares of the shipping company’s stock worth $2,026,000 after buying an additional 238,029 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Costamare during the fourth quarter worth $822,000. Parametric Portfolio Associates LLC raised its position in shares of Costamare by 16.3% in the first quarter. Parametric Portfolio Associates LLC now owns 808,691 shares of the shipping company’s stock worth $5,386,000 after buying an additional 113,445 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Costamare during the first quarter worth $438,000. Finally, Oxford Asset Management raised its position in shares of Costamare by 54.2% in the first quarter. Oxford Asset Management now owns 160,659 shares of the shipping company’s stock worth $1,070,000 after buying an additional 56,490 shares during the last quarter. Institutional investors own 19.24% of the company’s stock.
Shares of Costamare Inc. (CMRE) opened at 6.48 on Thursday. Costamare Inc. has a 52 week low of $5.07 and a 52 week high of $9.54. The firm has a 50 day moving average price of $6.85 and a 200-day moving average price of $6.64. The firm has a market capitalization of $686.82 million, a P/E ratio of 16.16 and a beta of 2.21.
Costamare (NYSE:CMRE) last issued its quarterly earnings data on Tuesday, July 25th. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Costamare had a return on equity of 8.94% and a net margin of 12.70%. The business 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 business earned $0.44 earnings per share. The business’s revenue was down 12.5% on a year-over-year basis. Equities research analysts predict that Costamare Inc. will post $0.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 24th were given a $0.10 dividend. The ex-dividend date was Thursday, July 20th. This represents a $0.40 annualized dividend and a dividend yield of 6.17%. Costamare’s dividend payout ratio is currently 105.27%.
A number of research analysts have weighed in on CMRE shares. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a report on Friday, April 14th. Credit Suisse Group upgraded Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price objective on the stock in a report on Monday, May 1st. BidaskClub upgraded Costamare from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. TheStreet upgraded Costamare from a “d+” rating to a “c” rating in a report on Friday, April 28th. Finally, ValuEngine lowered Costamare from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.50.
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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