Los Angeles Capital Management LLC Sells 1,610 Shares of Costamare Inc. (NYSE:CMRE)

Los Angeles Capital Management LLC lowered its stake in shares of Costamare Inc. (NYSE:CMRE) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 220,117 shares of the shipping company’s stock after selling 1,610 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.19% of Costamare worth $2,498,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMRE. Charles Schwab Investment Management Inc. boosted its stake in Costamare by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 456,561 shares of the shipping company’s stock valued at $4,392,000 after acquiring an additional 20,523 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Costamare in the third quarter valued at about $141,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Costamare by 1,282.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,428 shares of the shipping company’s stock valued at $2,063,000 after acquiring an additional 198,922 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Costamare in the third quarter valued at about $223,000. Finally, Raymond James & Associates purchased a new position in Costamare in the fourth quarter valued at about $135,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Performance

NYSE CMRE opened at $16.86 on Friday. The company’s 50 day moving average is $13.89 and its 200-day moving average is $11.92. Costamare Inc. has a 12-month low of $8.54 and a 12-month high of $17.00. The company has a quick ratio of 1.81, a current ratio of 1.91 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.98 billion, a P/E ratio of 6.53 and a beta of 1.35.

Costamare (NYSE:CMRE) last posted its earnings results on Friday, May 10th. The shipping company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $475.43 million for the quarter, compared to analyst estimates of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. Sell-side analysts predict that Costamare Inc. will post 3.08 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Friday, April 19th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Thursday, April 18th. Costamare’s dividend payout ratio (DPR) is presently 17.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Costamare from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 21st. Stifel Nicolaus boosted their price target on shares of Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group boosted their price target on shares of Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, May 10th.

Costamare Profile