Franklin Resources Inc. Sells 873 Shares of Costamare Inc. (NYSE:CMRE)

Franklin Resources Inc. lessened its stake in shares of Costamare Inc. (NYSE:CMRE) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,338 shares of the shipping company’s stock after selling 873 shares during the period. Franklin Resources Inc.’s holdings in Costamare were worth $820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ballentine Partners LLC increased its stake in Costamare by 7.6% during the 3rd quarter. Ballentine Partners LLC now owns 14,262 shares of the shipping company’s stock valued at $224,000 after purchasing an additional 1,012 shares in the last quarter. nVerses Capital LLC grew its position in Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after purchasing an additional 1,700 shares in the last quarter. Quarry LP lifted its position in shares of Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after buying an additional 2,003 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Costamare in the third quarter valued at approximately $35,000. Finally, Zacks Investment Management raised its stake in shares of Costamare by 14.6% during the 3rd quarter. Zacks Investment Management now owns 18,988 shares of the shipping company’s stock worth $298,000 after purchasing an additional 2,420 shares during the period. Institutional investors own 58.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $13.00 price target on shares of Costamare in a research note on Friday, November 1st. StockNews.com cut shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Stock Down 0.7 %

Shares of NYSE CMRE opened at $12.81 on Monday. 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 capitalization of $1.51 billion, a price-to-earnings ratio of 4.26 and a beta of 1.34. The business has a 50-day moving average of $13.52 and a 200-day moving average of $14.29.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $544.64 million for the quarter, compared to the consensus estimate of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same quarter last year, the business posted $0.46 earnings per share. Sell-side analysts expect that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

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