Oppenheimer & Co. Inc. Takes $886,000 Position in Costamare Inc. (NYSE:CMRE)

Oppenheimer & Co. Inc. acquired a new position in Costamare Inc. (NYSE:CMRE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 56,348 shares of the shipping company’s stock, valued at approximately $886,000.

Other hedge funds have also bought and sold shares of the company. nVerses Capital LLC increased its position in shares of Costamare by 1,700.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after buying an additional 1,700 shares during the period. CWM LLC boosted its stake in shares of Costamare by 53.6% in the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock valued at $71,000 after purchasing an additional 1,502 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in Costamare during the second quarter valued at about $80,000. Blue Trust Inc. grew its stake in shares of Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after buying an additional 7,113 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Costamare in the first quarter worth about $132,000. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CMRE shares. Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Friday, November 1st. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price target on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, July 24th.

Costamare Trading Down 1.0 %

CMRE opened at $14.50 on Wednesday. Costamare Inc. has a one year low of $9.16 and a one year high of $17.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56. The business has a 50 day simple moving average of $14.33 and a two-hundred day simple moving average of $14.59. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 4.82 and a beta of 1.37.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same period in the prior year, the firm earned $0.46 earnings per share. Analysts predict that Costamare Inc. will post 2.83 EPS for the current year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, October 21st. Costamare’s dividend payout ratio is presently 15.28%.

Costamare Profile