Gladius Capital Management LP Purchases Shares of 2,211 Costamare Inc. (NYSE:CMRE)

Gladius Capital Management LP purchased a new stake in shares of Costamare Inc. (NYSE:CMRE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,211 shares of the shipping company’s stock, valued at approximately $35,000.

Several other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in shares of Costamare by 56,543.3% in the first quarter. Russell Investments Group Ltd. now owns 143,874 shares of the shipping company’s stock valued at $1,633,000 after buying an additional 143,620 shares during the last quarter. Vanguard Group Inc. raised its position in Costamare by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 319,385 shares of the shipping company’s stock worth $3,625,000 after purchasing an additional 35,903 shares during the last quarter. Acadian Asset Management LLC bought a new position in Costamare in the 1st quarter valued at $1,172,000. Price T Rowe Associates Inc. MD increased its stake in shares of Costamare by 19.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,681 shares of the shipping company’s stock valued at $156,000 after buying an additional 2,223 shares during the period. Finally, Aristides Capital LLC acquired a new position in shares of Costamare during the first quarter valued at $247,000. Institutional investors own 58.08% of the company’s stock.

Costamare Price Performance

Shares of NYSE CMRE opened at $14.39 on Friday. The company has a fifty day moving average price of $14.26 and a 200 day moving average price of $14.54. Costamare Inc. has a 1-year low of $9.16 and a 1-year high of $17.58. The firm has a market cap of $1.69 billion, a PE ratio of 4.78 and a beta of 1.37. 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 (NYSE:CMRE) last announced its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The business had revenue of $544.64 million for the quarter, compared to analyst estimates of $434.13 million. During the same quarter last year, the firm earned $0.46 EPS. Research analysts predict that Costamare Inc. will post 2.83 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is currently 15.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CMRE shares. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $13.00 price target on shares of Costamare in a research report on Friday, November 1st.

About Costamare