Y Intercept Hong Kong Ltd Takes $274,000 Position in Costamare Inc. (NYSE:CMRE)

Key Points

• Y Intercept Hong Kong Ltd acquired 27,828 shares of Costamare Inc., valued at approximately $274,000, as indicated in their recent 13F filing with the SEC.
• Costamare's shares opened at $9.76 with a market cap of $1.17 billion, and it reported earnings per share of $0.61, exceeding estimates.
• The company announced a quarterly dividend of $0.115 per share, equating to an annual yield of 4.71%, with the ex-dividend date set for July 21st.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,828 shares of the shipping company's stock, valued at approximately $274,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Costamare by 61.2% in 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 in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Costamare in the 4th quarter valued at $513,000. American Century Companies Inc. increased its position in shares of Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company's stock valued at $13,845,000 after buying an additional 170,412 shares in the last quarter. Denali Advisors LLC lifted its holdings in Costamare by 9.2% during the first quarter. Denali Advisors LLC now owns 555,073 shares of the shipping company's stock worth $5,462,000 after acquiring an additional 46,878 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Costamare by 525.8% in the first quarter. GAMMA Investing LLC now owns 8,974 shares of the shipping company's stock valued at $912,000 after acquiring an additional 7,540 shares during the period. 58.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of Costamare in a research note on Thursday, May 15th. They issued a "hold" rating for the company.

Costamare Price Performance

NYSE:CMRE traded down $0.23 during trading hours on Wednesday, reaching $9.52. 589,486 shares of the company were exchanged, compared to its average volume of 406,534. The company has a market capitalization of $1.14 billion, a P/E ratio of 3.90 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.55 and a quick ratio of 1.47. The business has a 50 day moving average of $9.14 and a 200 day moving average of $9.74. 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 announced its quarterly earnings data 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 business had revenue of $440.54 million for the quarter, compared to analysts' expectations of $330.14 million. Costamare had a net margin of 15.27% and a return on equity of 13.44%. Research 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 will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.83%. Costamare's dividend payout ratio (DPR) is presently 18.85%.

Costamare Company Profile