Horizon Kinetics Asset Management LLC Increases Stock Position in Costamare Inc. (NYSE:CMRE)

Horizon Kinetics Asset Management LLC grew its position in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 41.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,000 shares of the shipping company's stock after purchasing an additional 94,900 shares during the period. Horizon Kinetics Asset Management LLC owned approximately 0.27% of Costamare worth $5,078,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in Costamare by 56,543.3% during the first quarter. Russell Investments Group Ltd. now owns 143,874 shares of the shipping company's stock valued at $1,633,000 after purchasing an additional 143,620 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Costamare during the 2nd quarter valued at about $1,999,000. Oppenheimer & Co. Inc. bought a new position in shares of Costamare in the 3rd quarter valued at about $886,000. Federated Hermes Inc. grew its position in Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company's stock worth $6,595,000 after acquiring an additional 399,860 shares in the last quarter. Finally, Foundry Partners LLC bought a new stake in Costamare during the third quarter worth approximately $4,032,000. 58.08% of the stock is owned by institutional investors.

Costamare Trading Down 4.0 %

Costamare stock traded down $0.57 during midday trading on Monday, reaching $13.72. The stock had a trading volume of 421,842 shares, compared to its average volume of 483,495. 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 firm has a market cap of $1.61 billion, a price-to-earnings ratio of 4.56 and a beta of 1.37. Costamare Inc. has a 52-week low of $9.16 and a 52-week high of $17.58. The company has a fifty day moving average of $14.37 and a 200 day moving average of $14.62.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly 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. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The firm had revenue of $544.64 million for the quarter, compared to the consensus estimate of $434.13 million. During the same period in the prior year, the business posted $0.46 earnings per share. On average, analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.35%. The ex-dividend date was Monday, October 21st. Costamare's dividend payout ratio is presently 15.28%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CMRE shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a $13.00 price objective on shares of Costamare in a research note on Friday, November 1st. StockNews.com downgraded Costamare from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd.

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