Vident Advisory LLC Purchases 74,518 Shares of Costamare Inc. $CMRE

Key Points

• Vident Advisory LLC increased its stake in Costamare Inc. by 126.4%, acquiring an additional 74,518 shares during the first quarter, bringing their total ownership to 133,451 shares worth approximately $1.31 million.
• Costamare recently reported an EPS of $0.77, outperforming analyst expectations of $0.48, with revenues of $211.20 million for the quarter.
• The company declared a quarterly dividend of $0.115 per share, which translates to an annualized yield of 4.0% and a payout ratio of 19.49%.

Vident Advisory LLC lifted its position in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 126.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,451 shares of the shipping company's stock after acquiring an additional 74,518 shares during the quarter. Vident Advisory LLC owned approximately 0.11% of Costamare worth $1,313,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Costamare by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,596 shares of the shipping company's stock worth $316,000 after buying an additional 1,064 shares during the period. Principal Financial Group Inc. lifted its holdings in Costamare by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 67,268 shares of the shipping company's stock worth $662,000 after buying an additional 1,630 shares during the period. Stifel Financial Corp lifted its holdings in Costamare by 3.2% during the 4th quarter. Stifel Financial Corp now owns 59,433 shares of the shipping company's stock worth $764,000 after buying an additional 1,832 shares during the period. Navellier & Associates Inc. lifted its holdings in Costamare by 8.6% during the 1st quarter. Navellier & Associates Inc. now owns 25,382 shares of the shipping company's stock worth $240,000 after buying an additional 2,012 shares during the period. Finally, Lifestyle Asset Management Inc. lifted its holdings in Costamare by 14.3% during the 1st quarter. Lifestyle Asset Management Inc. now owns 23,594 shares of the shipping company's stock worth $232,000 after buying an additional 2,956 shares during the period. Institutional investors and hedge funds own 58.08% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on Costamare in a report on Thursday, May 15th. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Costamare currently has an average rating of "Hold" and a consensus target price of $13.00.

Costamare Trading Up 0.5%

Shares of NYSE:CMRE traded up $0.06 during midday trading on Monday, reaching $12.14. The company's stock had a trading volume of 84,893 shares, compared to its average volume of 508,308. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 5.15 and a beta of 1.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 1.68. The firm has a 50 day moving average price of $10.39 and a two-hundred day moving average price of $9.67. Costamare Inc. has a fifty-two week low of $6.63 and a fifty-two week high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $211.20 million for the quarter, compared to the consensus estimate of $209.72 million. Costamare had a return on equity of 13.67% and a net margin of 17.10%.During the same period in the previous year, the business earned $0.76 EPS. As a group, analysts forecast that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, July 21st. Costamare's payout ratio is currently 19.49%.

Costamare Profile