Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Costamare Inc. (NYSE:CMRE)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Costamare Inc. (NYSE:CMRE - Free Report) by 24.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,186 shares of the shipping company's stock after selling 59,382 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Costamare worth $2,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CMRE. Unison Advisors LLC lifted its stake in Costamare by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company's stock valued at $1,359,000 after acquiring an additional 854 shares during the period. SummerHaven Investment Management LLC lifted its position in Costamare by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company's stock valued at $1,225,000 after purchasing an additional 990 shares during the period. Ballentine Partners LLC boosted its holdings in Costamare by 7.6% in the third quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company's stock valued at $224,000 after purchasing an additional 1,012 shares during the last quarter. CWM LLC grew its position in Costamare by 53.6% during the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company's stock worth $71,000 after purchasing an additional 1,502 shares during the period. Finally, nVerses Capital LLC raised its stake in shares of Costamare by 1,700.0% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 58.08% of the company's stock.

Costamare Price Performance

Shares of Costamare stock traded down $0.57 on Monday, hitting $13.72. The company's stock had a trading volume of 421,842 shares, compared to its average volume of 483,495. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 4.56 and a beta of 1.37. The firm has a fifty day moving average price of $14.37 and a 200-day moving average price of $14.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 1.65. Costamare Inc. has a 1 year low of $9.16 and a 1 year high of $17.58.

Costamare (NYSE:CMRE - Get Free Report) last announced its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same period in the prior year, the company posted $0.46 EPS. As a group, sell-side analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.35%. Costamare's payout ratio is currently 15.28%.

Wall Street Analyst Weigh In

Several research firms recently commented on CMRE. Jefferies Financial Group reaffirmed a "hold" rating and set a $13.00 target price on shares of Costamare in a report on Friday, November 1st. StockNews.com lowered shares of Costamare from a "buy" rating to a "hold" rating in a report on Wednesday, October 23rd.

Costamare Profile