Goldman Sachs Group Inc. Reduces Stake in Costamare Inc. (CMRE)
Goldman Sachs Group Inc. cut its position in Costamare Inc. (NYSE:CMRE) by 24.1% during the first quarter, Holdings Channel reports. The firm owned 144,522 shares of the shipping company’s stock after selling 45,834 shares during the period. Goldman Sachs Group Inc.’s holdings in Costamare were worth $963,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of CMRE. Renaissance Technologies LLC purchased a new position in shares of Costamare during the fourth quarter valued at approximately $822,000. State Street Corp increased its position in shares of Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the shipping company’s stock valued at $2,417,000 after buying an additional 3,614 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Costamare by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 285,279 shares of the shipping company’s stock valued at $1,598,000 after buying an additional 3,875 shares during the last quarter. Brandes Investment Partners LP purchased a new position in shares of Costamare during the first quarter valued at approximately $147,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Costamare by 1,730.8% in the first quarter. Canada Pension Plan Investment Board now owns 47,600 shares of the shipping company’s stock valued at $317,000 after buying an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 19.24% of the company’s stock.
Costamare Inc. (NYSE:CMRE) traded up 0.32% during midday trading on Friday, reaching $6.31. 712,859 shares of the company’s stock traded hands. The company has a market capitalization of $668.80 million, a price-to-earnings ratio of 15.74 and a beta of 2.21. The firm’s 50-day moving average is $6.84 and its 200-day moving average is $6.64. Costamare Inc. has a 1-year low of $5.07 and a 1-year high of $9.54.
Costamare (NYSE:CMRE) last posted its quarterly earnings results on Tuesday, July 25th. The shipping company reported $0.21 earnings per share 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 business had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $104.23 million. During the same period in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. Analysts forecast that Costamare Inc. will post $0.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 24th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.34%. Costamare’s dividend payout ratio (DPR) is presently 105.27%.
WARNING: This piece was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://www.watchlistnews.com/goldman-sachs-group-inc-reduces-stake-in-costamare-inc-cmre/1483120.html.
Several brokerages recently commented on CMRE. ValuEngine downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Costamare from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Credit Suisse Group upgraded shares of Costamare from an “underperform” rating to a “neutral” rating and set a $8.00 price target on the stock in a report on Monday, May 1st. BidaskClub downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, TheStreet upgraded shares of Costamare from a “d+” rating to a “c” rating in a report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.50.
Costamare Company Profile
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.
Want to see what other hedge funds are holding CMRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costamare Inc. (NYSE:CMRE).
Receive News & Ratings for Costamare Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costamare Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.