Q Global Advisors LLC cut its position in shares of Costamare Inc (NYSE:CMRE) by 29.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 700,000 shares of the shipping company’s stock after selling 288,608 shares during the quarter. Costamare makes up 11.0% of Q Global Advisors LLC’s investment portfolio, making the stock its 4th largest position. Q Global Advisors LLC owned about 0.65% of Costamare worth $4,039,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Voya Investment Management LLC acquired a new stake in shares of Costamare in the second quarter worth approximately $105,000. FNY Partners Fund LP acquired a new stake in shares of Costamare in the third quarter worth approximately $106,000. Highbridge Capital Management LLC acquired a new stake in shares of Costamare in the third quarter worth approximately $124,000. Commerce Bank acquired a new stake in shares of Costamare in the third quarter worth approximately $155,000. Finally, Royal Bank of Canada boosted its position in shares of Costamare by 31.4% in the second quarter. Royal Bank of Canada now owns 21,265 shares of the shipping company’s stock worth $155,000 after acquiring an additional 5,081 shares during the last quarter. Institutional investors and hedge funds own 23.58% of the company’s stock.
Several equities research analysts recently issued reports on CMRE shares. Zacks Investment Research cut shares of Costamare from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. ValuEngine raised shares of Costamare from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.83.
Shares of Costamare Inc (NYSE CMRE) opened at $6.49 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.82 and a quick ratio of 0.78. Costamare Inc has a 12-month low of $5.45 and a 12-month high of $8.18. The stock has a market cap of $702.12, a P/E ratio of 8.35 and a beta of 2.11.
Costamare (NYSE:CMRE) last announced its quarterly earnings results on Tuesday, January 23rd. The shipping company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $99.20 million for the quarter, compared to analysts’ expectations of $97.52 million. Costamare had a net margin of 17.67% and a return on equity of 7.28%. Costamare’s revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. analysts anticipate that Costamare Inc will post 0.72 EPS for the current fiscal year.
Costamare Company Profile
Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.
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