HighTower Advisors LLC Sells 3,450 Shares of Costamare Inc. (NYSE:CMRE)

HighTower Advisors LLC lowered its position in Costamare Inc. (NYSE:CMRE) by 21.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,306 shares of the shipping company’s stock after selling 3,450 shares during the period. HighTower Advisors LLC’s holdings in Costamare were worth $193,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CMRE. nVerses Capital LLC grew its holdings in Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares in the last quarter. Gladius Capital Management LP purchased a new position in Costamare during the third quarter valued at $35,000. Redwood Wealth Management Group LLC bought a new stake in Costamare in the 2nd quarter valued at $80,000. Blue Trust Inc. lifted its stake in Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after purchasing an additional 7,113 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Costamare in the 2nd quarter worth $185,000. Institutional investors own 58.08% of the company’s stock.

Costamare Price Performance

CMRE stock opened at $12.92 on Thursday. Costamare Inc. has a 52 week low of $10.14 and a 52 week high of $17.58. The firm has a market capitalization of $1.52 billion, a P/E ratio of 4.29 and a beta of 1.34. The company has a fifty day simple moving average of $13.58 and a two-hundred day simple moving average of $14.33. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The firm had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. During the same quarter last year, the firm earned $0.46 EPS. Analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 21st. This represents a $0.46 annualized dividend and a yield of 3.56%. Costamare’s payout ratio is presently 15.28%.

Analyst Ratings Changes

CMRE has been the subject of a number of research analyst reports. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Costamare in a report on Friday, November 1st.

Costamare Company Profile