GSA Capital Partners LLP Lowers Holdings in Costamare Inc. $CMRE

GSA Capital Partners LLP reduced its stake in shares of Costamare Inc. (NYSE:CMRE) by 65.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,890 shares of the shipping company’s stock after selling 60,766 shares during the quarter. GSA Capital Partners LLP’s holdings in Costamare were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CMRE. Millennium Management LLC acquired a new stake in shares of Costamare during the 1st quarter worth approximately $6,075,000. Marshall Wace LLP boosted its holdings in Costamare by 527.7% during the second quarter. Marshall Wace LLP now owns 703,932 shares of the shipping company’s stock worth $6,413,000 after buying an additional 591,785 shares in the last quarter. JPMorgan Chase & Co. grew its position in Costamare by 81.5% during the second quarter. JPMorgan Chase & Co. now owns 1,030,194 shares of the shipping company’s stock valued at $9,385,000 after buying an additional 462,582 shares during the period. Qube Research & Technologies Ltd increased its holdings in Costamare by 55.3% in the second quarter. Qube Research & Technologies Ltd now owns 605,715 shares of the shipping company’s stock valued at $5,518,000 after buying an additional 215,588 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Costamare in the second quarter worth about $1,620,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Trading Up 1.2%

Shares of Costamare stock opened at $16.99 on Thursday. The firm has a market capitalization of $2.04 billion, a PE ratio of 5.96 and a beta of 1.24. Costamare Inc. has a twelve month low of $6.63 and a twelve month high of $17.52. The firm’s 50-day moving average price is $16.20 and its 200 day moving average price is $14.04. The company has a current ratio of 1.73, a quick ratio of 1.70 and a debt-to-equity ratio of 0.58.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, February 18th. The shipping company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.14). Costamare had a return on equity of 15.52% and a net margin of 33.19%.The firm had revenue of $200.18 million for the quarter, compared to analysts’ expectations of $204.00 million. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, sell-side analysts predict that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, January 20th. Costamare’s payout ratio is presently 16.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CMRE shares. Weiss Ratings upgraded Costamare from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Wall Street Zen downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Jefferies Financial Group boosted their price objective on Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.00.

Costamare Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.