Triton Wealth Management PLLC Purchases New Shares in Costamare Inc. $CMRE

Triton Wealth Management PLLC purchased a new position in Costamare Inc. (NYSE:CMRE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,075 shares of the shipping company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP raised its stake in shares of Costamare by 21,575.0% in the first quarter. Quarry LP now owns 3,468 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 3,452 shares during the period. New Age Alpha Advisors LLC boosted its stake in shares of Costamare by 89.4% during the 1st quarter. New Age Alpha Advisors LLC now owns 7,393 shares of the shipping company’s stock worth $73,000 after purchasing an additional 3,489 shares during the period. GAMMA Investing LLC grew its holdings in Costamare by 525.8% during the 1st quarter. GAMMA Investing LLC now owns 8,974 shares of the shipping company’s stock valued at $912,000 after purchasing an additional 7,540 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Costamare in the 2nd quarter worth about $128,000. Finally, Aigen Investment Management LP bought a new stake in Costamare in the first quarter worth about $150,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMRE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Costamare in a research note on Wednesday, October 8th. Zacks Research raised Costamare from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Costamare Price Performance

CMRE opened at $11.02 on Wednesday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 4.67 and a beta of 1.38. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.65. Costamare Inc. has a 12-month low of $6.63 and a 12-month high of $14.85. The business’s fifty day simple moving average is $11.73 and its 200-day simple moving average is $10.01.

Costamare (NYSE:CMRE) last released its quarterly earnings data on Thursday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.29. Costamare had a net margin of 17.10% and a return on equity of 13.67%. The company had revenue of $211.20 million during the quarter, compared to analyst estimates of $209.72 million. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities research analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Tuesday, October 21st will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.2%. Costamare’s dividend payout ratio (DPR) is currently 19.49%.

Costamare Company Profile