DGS Capital Management LLC Sells 1,815 Shares of Costamare Inc. (NYSE:CMRE)

DGS Capital Management LLC trimmed its position in shares of Costamare Inc. (NYSE:CMRE) by 7.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 22,804 shares of the shipping company’s stock after selling 1,815 shares during the quarter. DGS Capital Management LLC’s holdings in Costamare were worth $259,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC grew its stake in Costamare by 23.5% in the 1st quarter. Ballentine Partners LLC now owns 13,567 shares of the shipping company’s stock worth $154,000 after acquiring an additional 2,585 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Costamare by 34.6% in the 4th quarter. Quadrature Capital Ltd now owns 31,268 shares of the shipping company’s stock worth $326,000 after purchasing an additional 8,042 shares during the period. Quarry LP lifted its position in shares of Costamare by 48.5% in 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 during the period. Bridgeway Capital Management LLC lifted its position in shares of Costamare by 16.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock worth $13,677,000 after purchasing an additional 183,193 shares during the period. Finally, Olympiad Research LP purchased a new stake in shares of Costamare in the 4th quarter worth approximately $228,000. 58.08% of the stock is currently owned by institutional investors.

Costamare Stock Down 0.8 %

CMRE stock opened at $16.62 on Thursday. The firm has a market cap of $1.96 billion, a PE ratio of 6.49 and a beta of 1.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.81 and a current ratio of 1.91. The firm’s fifty day moving average is $14.25 and its 200 day moving average is $12.09. Costamare Inc. has a one year low of $8.54 and a one year high of $17.58.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Friday, May 10th. The shipping company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $475.43 million for the quarter, compared to analyst estimates of $383.32 million. Costamare had a net margin of 19.26% and a return on equity of 12.61%. On average, research analysts forecast that Costamare Inc. will post 3.08 EPS for the current year.

Costamare Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Friday, April 19th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 2.77%. The ex-dividend date was Thursday, April 18th. Costamare’s payout ratio is 17.83%.

Analyst Ratings Changes

CMRE has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Costamare from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. StockNews.com cut shares of Costamare from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus increased their target price on shares of Costamare from $11.50 to $12.00 and gave the company a “hold” rating in a research report on Friday, April 19th.

About Costamare