D. E. Shaw & Co. Inc. Acquires Shares of 49,247 Costamare Inc. (NYSE:CMRE)

D. E. Shaw & Co. Inc. purchased a new position in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 49,247 shares of the shipping company's stock, valued at approximately $633,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Aquatic Capital Management LLC purchased a new position in Costamare in the fourth quarter valued at approximately $45,000. New Age Alpha Advisors LLC purchased a new stake in shares of Costamare during the fourth quarter valued at approximately $50,000. Legal & General Group Plc raised its stake in shares of Costamare by 27.1% during the fourth quarter. Legal & General Group Plc now owns 8,909 shares of the shipping company's stock valued at $114,000 after purchasing an additional 1,900 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Costamare during the fourth quarter valued at approximately $130,000. Finally, Mariner LLC bought a new stake in shares of Costamare in the fourth quarter worth $134,000. 58.08% of the stock is owned by institutional investors and hedge funds.

Costamare Stock Performance

Costamare stock traded down $0.08 during mid-day trading on Wednesday, hitting $8.38. 175,126 shares of the company's stock traded hands, compared to its average volume of 473,558. The firm has a 50 day moving average price of $9.01 and a 200 day moving average price of $11.00. The company has a market cap of $1.00 billion, a PE ratio of 3.44 and a beta of 1.13. 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 Inc. has a one year low of $6.63 and a one year high of $17.58.

Costamare (NYSE:CMRE - Get Free Report) last announced its earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.09. The firm had revenue of $440.54 million during the quarter, compared to analyst estimates of $330.14 million. Costamare had a net margin of 15.14% and a return on equity of 14.03%. On average, equities analysts forecast that Costamare Inc. will post 2.52 EPS for the current year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Thursday, April 17th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend was Thursday, April 17th. Costamare's payout ratio is 18.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMRE. Wall Street Zen began coverage on shares of Costamare in a research note on Thursday, May 15th. They set a "hold" rating for the company. Jefferies Financial Group restated a "hold" rating and set a $13.00 price target on shares of Costamare in a research report on Wednesday, February 5th.

Costamare Profile