Centiva Capital LP Sells 27,701 Shares of Costamare Inc. (NYSE:CMRE)

Centiva Capital LP reduced its holdings in Costamare Inc. (NYSE:CMRE) by 69.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,955 shares of the shipping company’s stock after selling 27,701 shares during the quarter. Centiva Capital LP’s holdings in Costamare were worth $188,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CMRE. ClearAlpha Technologies LP grew its stake in shares of Costamare by 11.0% in the 3rd quarter. ClearAlpha Technologies LP now owns 31,379 shares of the shipping company’s stock valued at $493,000 after buying an additional 3,108 shares during the period. PDT Partners LLC lifted its holdings in shares of Costamare by 50.5% in the 3rd quarter. PDT Partners LLC now owns 122,181 shares of the shipping company’s stock worth $1,921,000 after purchasing an additional 41,012 shares in the last quarter. Freedom Investment Management Inc. bought a new stake in Costamare during the 3rd quarter valued at $547,000. BNP Paribas Financial Markets raised its holdings in Costamare by 141.9% during the third quarter. BNP Paribas Financial Markets now owns 62,773 shares of the shipping company’s stock worth $987,000 after buying an additional 36,822 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Costamare by 261.9% in the third quarter. FMR LLC now owns 24,763 shares of the shipping company’s stock valued at $389,000 after buying an additional 17,921 shares in the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Price Performance

CMRE opened at $12.87 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The stock has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $14.52. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 4.28 and a beta of 1.34. Costamare Inc. has a 12-month low of $9.16 and a 12-month high of $17.58.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share 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 firm had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. Research analysts predict that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.57%. Costamare’s payout ratio is 15.28%.

Analyst Ratings Changes

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

About Costamare