Los Angeles Capital Management LLC Sells 73,736 Shares of Costamare Inc. (NYSE:CMRE)

Los Angeles Capital Management LLC trimmed its holdings in Costamare Inc. (NYSE:CMRE - Free Report) by 33.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,381 shares of the shipping company's stock after selling 73,736 shares during the quarter. Los Angeles Capital Management LLC owned 0.12% of Costamare worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC grew its position in Costamare by 197.8% in the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company's stock worth $42,000 after purchasing an additional 2,696 shares during the last quarter. Quarry LP grew its holdings in shares of Costamare by 48.5% during the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company's stock worth $44,000 after purchasing an additional 1,376 shares in the last quarter. CWM LLC increased its position in shares of Costamare by 53.6% during the second quarter. CWM LLC now owns 4,302 shares of the shipping company's stock valued at $71,000 after purchasing an additional 1,502 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Costamare in the first quarter worth $132,000. Finally, Victory Capital Management Inc. boosted its stake in Costamare by 12.7% during the fourth quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company's stock worth $138,000 after buying an additional 1,498 shares in the last quarter. Institutional investors and hedge funds own 58.08% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Costamare from a "hold" rating to a "buy" rating in a research report on Friday, August 23rd. Jefferies Financial Group boosted their target price on Costamare from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus raised their target price on shares of Costamare from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Wednesday, July 24th.

Costamare Trading Down 1.8 %

Shares of Costamare stock traded down $0.23 during trading on Tuesday, hitting $12.85. 248,831 shares of the company were exchanged, compared to its average volume of 531,824. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a market capitalization of $1.51 billion, a P/E ratio of 5.07 and a beta of 1.37. The firm's fifty day moving average price is $14.42 and its 200 day moving average price is $13.54. Costamare Inc. has a 1-year low of $8.54 and a 1-year high of $17.58.

Costamare (NYSE:CMRE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. Costamare had a net margin of 19.63% and a return on equity of 13.63%. The company had revenue of $515.42 million for the quarter, compared to analysts' expectations of $380.41 million. As a group, sell-side analysts expect that Costamare Inc. will post 3.05 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were paid a $0.115 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.46 dividend on an annualized basis and a yield of 3.58%. Costamare's payout ratio is 17.83%.

Costamare Profile