Tidal Investments LLC Sells 61,984 Shares of Costamare Inc. (NYSE:CMRE)

Tidal Investments LLC cut its holdings in shares of Costamare Inc. (NYSE:CMRE - Free Report) by 54.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,415 shares of the shipping company's stock after selling 61,984 shares during the quarter. Tidal Investments LLC's holdings in Costamare were worth $808,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. nVerses Capital LLC increased its position in Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company's stock worth $28,000 after buying an additional 1,700 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Costamare during the 3rd quarter worth $35,000. Quarry LP increased its holdings in Costamare by 157.5% in the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company's stock worth $51,000 after acquiring an additional 2,003 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in Costamare in the 2nd quarter valued at about $80,000. Finally, Blue Trust Inc. lifted its holdings in Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company's stock valued at $121,000 after purchasing an additional 7,113 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors.

Costamare Price Performance

Shares of Costamare stock traded down $0.03 during trading on Friday, hitting $12.39. The stock had a trading volume of 423,657 shares, compared to its average volume of 468,620. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. Costamare Inc. has a 12 month low of $10.14 and a 12 month high of $17.58. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 4.12 and a beta of 1.34. The business's 50-day moving average is $13.65 and its 200 day moving average is $14.40.

Costamare (NYSE:CMRE - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS 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 company had revenue of $544.64 million during the quarter, compared to analyst estimates of $434.13 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Costamare Inc. will post 2.83 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.71%. The ex-dividend date was Monday, October 21st. Costamare's dividend payout ratio is currently 15.28%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMRE. StockNews.com cut shares of Costamare from a "buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a "hold" rating and set a $13.00 target price on shares of Costamare in a report on Friday, November 1st.

Costamare Company Profile