Denali Advisors LLC Has $6.53 Million Stock Holdings in Costamare Inc. (NYSE:CMRE)

Denali Advisors LLC increased its position in shares of Costamare Inc. (NYSE:CMRE) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 508,195 shares of the shipping company’s stock after buying an additional 8,300 shares during the quarter. Denali Advisors LLC owned about 0.43% of Costamare worth $6,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in shares of Costamare during the third quarter valued at about $35,000. Quarry LP boosted its stake in Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 2,003 shares during the last quarter. Blue Trust Inc. increased its holdings 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 purchasing an additional 7,113 shares in the last quarter. US Bancorp DE raised its stake in shares of Costamare by 1,385.2% in the third quarter. US Bancorp DE now owns 11,837 shares of the shipping company’s stock worth $186,000 after purchasing an additional 11,040 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Costamare in the third quarter valued at approximately $195,000. Institutional investors own 58.08% of the company’s stock.

Costamare Price Performance

Costamare stock opened at $10.09 on Wednesday. The stock has a market cap of $1.21 billion, a P/E ratio of 4.13 and a beta of 1.31. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average price is $11.85 and its two-hundred day moving average price is $13.22. Costamare Inc. has a 52 week low of $10.08 and a 52 week high of $17.58.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, February 5th. The shipping company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03. Costamare had a return on equity of 14.03% and a net margin of 15.14%. On average, equities analysts predict that Costamare Inc. will post 2.52 earnings per share for the current year.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 6th. Investors of record on Tuesday, January 21st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Tuesday, January 21st. Costamare’s dividend payout ratio (DPR) is currently 18.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 target price on shares of Costamare in a research note on Wednesday, February 5th.

Costamare Profile