Denali Advisors LLC Reduces Holdings in Costamare Inc. $CMRE

Key Points

• Denali Advisors trimmed its Costamare stake by 25.9% in the fourth quarter, selling 174,419 shares and leaving it with 497,977 shares valued at about $7.86 million.
• Costamare beat earnings and revenue expectations in its latest quarterly report, posting EPS of $0.63 versus the $0.57 consensus and revenue of $199.25 million, up 5.6% year over year.
• The company also paid a quarterly dividend of $0.115 per share, which annualizes to $0.46 and yields about 2.6% at current prices.

Denali Advisors LLC cut its stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 25.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 497,977 shares of the shipping company's stock after selling 174,419 shares during the quarter. Costamare accounts for about 0.9% of Denali Advisors LLC's investment portfolio, making the stock its 18th largest holding. Denali Advisors LLC owned approximately 0.41% of Costamare worth $7,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. ST Germain D J Co. Inc. purchased a new stake in Costamare during the 4th quarter valued at about $29,000. Tower Research Capital LLC TRC raised its position in Costamare by 204.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company's stock valued at $63,000 after purchasing an additional 4,635 shares during the last quarter. Focus Partners Wealth bought a new position in Costamare during the 3rd quarter valued at approximately $66,000. State of Alaska Department of Revenue bought a new position in Costamare during the 3rd quarter valued at approximately $79,000. Finally, BNP Paribas Financial Markets raised its position in Costamare by 84.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,828 shares of the shipping company's stock valued at $105,000 after purchasing an additional 4,040 shares during the last quarter. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on CMRE shares. Wall Street Zen lowered Costamare from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Fearnley Fonds raised Costamare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Finally, Weiss Ratings lowered Costamare from a "buy (b-)" rating to a "hold (c)" rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Costamare has an average rating of "Moderate Buy" and an average target price of $12.00.

Costamare Stock Up 1.3%

CMRE stock opened at $17.61 on Friday. Costamare Inc. has a twelve month low of $7.56 and a twelve month high of $18.06. The company has a quick ratio of 1.92, a current ratio of 1.96 and a debt-to-equity ratio of 0.56. The firm has a market cap of $2.12 billion, a PE ratio of 6.57 and a beta of 1.10. The business has a 50 day moving average of $16.98 and a 200 day moving average of $15.86.

Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The shipping company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.06. Costamare had a return on equity of 16.42% and a net margin of 39.93%.The company had revenue of $199.25 million during the quarter, compared to analyst estimates of $191.50 million. During the same quarter last year, the company earned $0.63 EPS. The firm's revenue for the quarter was up 5.6% on a year-over-year basis.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Monday, April 20th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.6%. Costamare's dividend payout ratio (DPR) is presently 17.16%.

About Costamare

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.

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