B. Riley Wealth Advisors Inc. Raises Position in Costamare Inc. (NYSE:CMRE)

B. Riley Wealth Advisors Inc. increased its stake in Costamare Inc. (NYSE:CMRE) by 39.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,188 shares of the shipping company’s stock after buying an additional 4,544 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Costamare were worth $266,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Bridgeway Capital Management LLC raised its stake in shares of Costamare by 16.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock valued at $13,677,000 after purchasing an additional 183,193 shares during the period. Quarry LP increased its stake in Costamare by 48.5% during the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after buying an additional 1,376 shares during the period. Quadrature Capital Ltd increased its stake in Costamare by 34.6% during the 4th quarter. Quadrature Capital Ltd now owns 31,268 shares of the shipping company’s stock worth $326,000 after buying an additional 8,042 shares during the period. Ballentine Partners LLC lifted its holdings in Costamare by 23.5% in the 1st quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock worth $154,000 after buying an additional 2,585 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Costamare by 3.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock valued at $459,000 after buying an additional 1,390 shares during the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Stock Performance

Shares of CMRE stock opened at $14.56 on Wednesday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 5.64 and a beta of 1.37. Costamare Inc. has a one year low of $8.54 and a one year high of $17.58. The company’s 50-day simple moving average is $14.16 and its 200-day simple moving average is $14.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61.

Costamare (NYSE:CMRE) last released its earnings results on Wednesday, July 31st. The shipping company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Costamare had a return on equity of 13.63% and a net margin of 19.63%. The company had revenue of $515.42 million for the quarter, compared to the consensus estimate of $380.41 million. Equities analysts anticipate that Costamare Inc. will post 3.05 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Monday, October 21st. Costamare’s dividend payout ratio is presently 17.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMRE. Stifel Nicolaus lifted their target price on Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their target price on Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a research report on Friday, August 23rd.

Costamare Profile