34,766 Shares in Costamare Inc. (NYSE:CMRE) Purchased by Freedom Investment Management Inc.

Freedom Investment Management Inc. acquired a new stake in Costamare Inc. (NYSE:CMRE) in the third quarter, HoldingsChannel.com reports. The fund acquired 34,766 shares of the shipping company’s stock, valued at approximately $547,000.

Other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in Costamare by 141.9% during the third quarter. BNP Paribas Financial Markets now owns 62,773 shares of the shipping company’s stock worth $987,000 after buying an additional 36,822 shares in the last quarter. FMR LLC raised its holdings in shares of Costamare by 261.9% during the 3rd quarter. FMR LLC now owns 24,763 shares of the shipping company’s stock worth $389,000 after acquiring an additional 17,921 shares during the period. Horizon Kinetics Asset Management LLC raised its holdings in shares of Costamare by 41.6% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 323,000 shares of the shipping company’s stock worth $5,078,000 after acquiring an additional 94,900 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Costamare by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 433,995 shares of the shipping company’s stock valued at $6,822,000 after purchasing an additional 15,983 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in shares of Costamare in the third quarter valued at about $408,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Trading Down 0.9 %

Shares of CMRE stock opened at $13.19 on Friday. Costamare Inc. has a 1-year low of $9.16 and a 1-year high of $17.58. The firm has a market cap of $1.55 billion, a PE ratio of 4.44 and a beta of 1.37. The company has a 50-day moving average of $14.33 and a two-hundred day moving average of $14.60. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.56.

Costamare (NYSE:CMRE) last posted its earnings results 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 net margin of 19.11% and a return on equity of 14.28%. The firm had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. During the same quarter last year, the firm earned $0.46 EPS. On average, analysts predict that Costamare Inc. will post 2.83 EPS for the current year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s payout ratio is 15.28%.

Analyst Ratings Changes

Several equities analysts have weighed in on CMRE shares. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 target price on shares of Costamare in a report on Friday, November 1st. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd.

Costamare Company Profile