SG Americas Securities LLC Sells 113,595 Shares of Costamare Inc. (NYSE:CMRE)

SG Americas Securities LLC lowered its stake in Costamare Inc. (NYSE:CMRE) by 93.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,052 shares of the shipping company’s stock after selling 113,595 shares during the quarter. SG Americas Securities LLC’s holdings in Costamare were worth $127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Costamare by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock worth $459,000 after buying an additional 1,390 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Costamare in the 1st quarter worth approximately $455,000. BNP Paribas Financial Markets raised its holdings in shares of Costamare by 24.4% during the 1st quarter. BNP Paribas Financial Markets now owns 101,791 shares of the shipping company’s stock worth $1,155,000 after acquiring an additional 19,998 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Costamare by 8.2% during the 1st quarter. Empowered Funds LLC now owns 504,570 shares of the shipping company’s stock valued at $5,727,000 after acquiring an additional 38,168 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Costamare in the first quarter valued at $264,000. Institutional investors own 58.08% of the company’s stock.

Costamare Stock Performance

NYSE CMRE opened at $13.67 on Friday. The company has a market cap of $1.61 billion, a P/E ratio of 5.30 and a beta of 1.37. The business’s 50 day moving average price is $14.19 and its 200-day moving average price is $14.24. Costamare Inc. has a fifty-two week low of $8.54 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61.

Costamare (NYSE:CMRE) last posted its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $515.42 million for the quarter, compared to analysts’ expectations of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. Sell-side analysts predict that Costamare Inc. will post 3.05 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Monday, October 21st. Costamare’s dividend payout ratio (DPR) is currently 17.83%.

Analysts Set New Price Targets

CMRE has been the topic of several research reports. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group boosted their target price on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus increased their price target on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, July 24th.

Costamare Company Profile