Goldman Sachs Group Inc. Acquires 142,372 Shares of Costamare Inc. $CMRE

Key Points

• Goldman Sachs increased its stake in Costamare Inc. by 42.2% to a total of 479,822 shares, valuing their holding at approximately $4.72 million.
• Costamare reported earnings of $0.77 per share for the last quarter, exceeding expectations, with a revenue of $211.20 million.
• The company announced a quarterly dividend of $0.115 per share, resulting in an annualized yield of 3.7%.

Goldman Sachs Group Inc. increased its stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 479,822 shares of the shipping company's stock after purchasing an additional 142,372 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.40% of Costamare worth $4,721,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Costamare by 61.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,567 shares of the shipping company's stock worth $242,000 after purchasing an additional 9,327 shares during the period. Jump Financial LLC acquired a new stake in Costamare in the first quarter valued at approximately $741,000. Squarepoint Ops LLC acquired a new stake in Costamare in the fourth quarter valued at approximately $513,000. Y Intercept Hong Kong Ltd acquired a new stake in Costamare in the first quarter valued at approximately $274,000. Finally, American Century Companies Inc. lifted its stake in Costamare by 11.1% in the first quarter. American Century Companies Inc. now owns 1,196,506 shares of the shipping company's stock valued at $11,774,000 after acquiring an additional 119,106 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Stock Down 3.5%

NYSE CMRE traded down $0.45 during trading on Friday, reaching $12.28. The company's stock had a trading volume of 738,117 shares, compared to its average volume of 402,344. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.48 billion, a PE ratio of 5.20 and a beta of 1.29. The business has a 50-day moving average price of $11.02 and a 200-day moving average price of $9.83. Costamare Inc. has a 1-year low of $6.63 and a 1-year high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last posted its earnings results on Thursday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.29. The firm had revenue of $211.20 million during the quarter, compared to analysts' expectations of $209.72 million. Costamare had a net margin of 17.10% and a return on equity of 13.67%. During the same period in the previous year, the company earned $0.76 earnings per share. On average, research analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.7%. Costamare's dividend payout ratio (DPR) is currently 19.49%.

Costamare Company Profile