GSA Capital Partners LLP acquired a new position in Costamare Inc (NYSE:CMRE) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 63,665 shares of the company’s stock, valued at approximately $357,000.
Other hedge funds have also modified their holdings of the company. York Capital Management Global Advisors LLC acquired a new stake in shares of Costamare during the third quarter worth about $10,511,000. Global X Management Co. LLC increased its stake in shares of Costamare by 1.7% in the third quarter. Global X Management Co. LLC now owns 1,017,967 shares of the company’s stock worth $9,304,000 after buying an additional 16,801 shares during the last quarter. State Street Corp increased its stake in shares of Costamare by 0.8% in the fourth quarter. State Street Corp now owns 431,593 shares of the company’s stock worth $2,417,000 after buying an additional 3,614 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of Costamare during the third quarter worth about $2,735,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Costamare during the fourth quarter worth about $1,653,000. 12.30% of the stock is owned by hedge funds and other institutional investors.
Costamare Inc (NYSE:CMRE) opened at 6.41 on Monday. Costamare Inc has a 52-week low of $5.07 and a 52-week high of $11.00. The firm has a market capitalization of $586.12 million, a P/E ratio of 8.17 and a beta of 1.96. The firm has a 50-day moving average price of $6.09 and a 200 day moving average price of $6.72.
Costamare (NYSE:CMRE) last issued its quarterly earnings data on Thursday, January 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Costamare had a return on equity of 12.74% and a net margin of 17.45%. The business had revenue of $110.13 million for the quarter, compared to the consensus estimate of $110.51 million. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s revenue was down 9.9% on a year-over-year basis. Analysts forecast that Costamare Inc will post $0.88 EPS for the current year.
CMRE has been the subject of a number of recent analyst reports. Wells Fargo & Co raised Costamare from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Monday, February 13th. They noted that the move was a valuation call. Citigroup Inc initiated coverage on Costamare in a research report on Tuesday, February 7th. They set a “neutral” rating and a $5.50 price objective for the company. Morgan Stanley raised Costamare from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research report on Wednesday, February 1st. Zacks Investment Research raised Costamare from a “sell” rating to a “hold” rating in a research report on Friday, February 17th. Finally, Credit Suisse Group AG downgraded Costamare from a “neutral” rating to an “underperform” rating and set a $5.00 price objective for the company. in a research report on Monday, January 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.59.
Costamare Company Profile
Costamare Inc (Costamare) is an international owner of containerships. The Company provides marine transportation services by chartering its container vessels to liner operators under long, medium and short-term time charters. The Company has a fleet of approximately 70 containerships with a total capacity of over 467,000 20-foot equivalent unit (TEU), including approximately 10 newbuilds on order.
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