Navellier & Associates Inc. Acquires Shares of 25,957 Costamare Inc. (NYSE:CMRE)

Navellier & Associates Inc. bought a new stake in shares of Costamare Inc. (NYSE:CMRE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 25,957 shares of the shipping company’s stock, valued at approximately $408,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. nVerses Capital LLC boosted its stake in Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after acquiring an additional 1,700 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Costamare during the third quarter worth $35,000. CWM LLC grew its holdings 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 buying an additional 1,502 shares during the period. Redwood Wealth Management Group LLC bought a new stake in shares of Costamare in the 2nd quarter valued at $80,000. Finally, Blue Trust Inc. raised its stake in Costamare by 2,540.4% during the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after buying an additional 7,113 shares during the period. Institutional investors and hedge funds own 58.08% of the company’s stock.

Wall Street Analysts Forecast Growth

CMRE has been the subject of several recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $13.00 price target on shares of Costamare in a report on Friday, November 1st. StockNews.com cut Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Stock Down 2.6 %

Costamare stock opened at $14.06 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 1-year low of $9.16 and a 1-year high of $17.58. The company has a fifty day simple moving average of $14.36 and a 200 day simple moving average of $14.59. The company has a market cap of $1.65 billion, a P/E ratio of 4.67 and a beta of 1.37.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The company had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same quarter last year, the company earned $0.46 EPS. Research analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is 15.28%.

About Costamare