Dynamic Technology Lab Private Ltd Sells 5,648 Shares of Costamare Inc. $CMRE

Dynamic Technology Lab Private Ltd lessened its position in Costamare Inc. (NYSE:CMRE) by 29.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,416 shares of the shipping company’s stock after selling 5,648 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Costamare were worth $122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Jump Financial LLC bought a new position in Costamare during the first quarter worth about $741,000. American Century Companies Inc. lifted its position in shares of 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 buying an additional 119,106 shares during the last quarter. Unison Advisors LLC boosted its stake in shares of Costamare by 1.3% during the 2nd quarter. Unison Advisors LLC now owns 85,876 shares of the shipping company’s stock worth $782,000 after acquiring an additional 1,099 shares during the period. State of Wyoming increased its holdings in shares of Costamare by 391.6% during the 1st quarter. State of Wyoming now owns 39,815 shares of the shipping company’s stock worth $392,000 after acquiring an additional 31,716 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Costamare during the 1st quarter worth approximately $99,482,000. 58.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CMRE shares. Jefferies Financial Group raised their price target on Costamare from $11.00 to $12.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Costamare in a research note on Wednesday, October 8th. Finally, Zacks Research cut Costamare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.

Costamare Price Performance

NYSE:CMRE opened at $15.26 on Friday. Costamare Inc. has a 52 week low of $6.63 and a 52 week high of $15.44. 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’s 50-day simple moving average is $12.74 and its 200 day simple moving average is $10.96. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 6.46 and a beta of 1.38.

Costamare (NYSE:CMRE) last announced its earnings results on Tuesday, November 4th. The shipping company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.11. Costamare had a net margin of 17.10% and a return on equity of 13.67%. The firm had revenue of $219.13 million for the quarter, compared to analyst estimates of $197.92 million. As a group, sell-side analysts predict that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 6th. Shareholders of record on Tuesday, October 21st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, October 21st. Costamare’s dividend payout ratio (DPR) is 18.40%.

About Costamare