Costamare Inc. (NYSE:CMRE) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lowered its holdings in Costamare Inc. (NYSE:CMRE) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,683 shares of the shipping company’s stock after selling 5,667 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Costamare were worth $215,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CMRE. Connor Clark & Lunn Investment Management Ltd. increased its stake in Costamare by 1,282.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,428 shares of the shipping company’s stock valued at $2,063,000 after purchasing an additional 198,922 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Costamare by 177.5% in the third quarter. Los Angeles Capital Management LLC now owns 208,277 shares of the shipping company’s stock valued at $2,004,000 after buying an additional 133,225 shares in the last quarter. Demars Financial Group LLC acquired a new position in shares of Costamare during the 3rd quarter worth $1,106,000. Gallacher Capital Management LLC purchased a new stake in shares of Costamare in the 3rd quarter worth about $476,000. Finally, Jump Financial LLC acquired a new stake in Costamare in the 3rd quarter valued at about $464,000. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CMRE shares. StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Stifel Nicolaus upped their target price on Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a research note on Friday, April 19th.

Costamare Price Performance

CMRE stock traded down $0.24 during trading on Wednesday, hitting $11.29. The stock had a trading volume of 187,303 shares, compared to its average volume of 427,016. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 3.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69. The company’s 50 day moving average price is $11.24 and its two-hundred day moving average price is $10.45. Costamare Inc. has a 1-year low of $7.71 and a 1-year high of $11.85.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $494.85 million during the quarter, compared to analyst estimates of $419.00 million. Costamare had a net margin of 25.26% and a return on equity of 11.37%. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts forecast that Costamare Inc. will post 2.75 EPS for the current fiscal year.

Costamare Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Friday, April 19th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.46 annualized dividend and a dividend yield of 4.07%. Costamare’s payout ratio is currently 15.59%.

Costamare Profile

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.