Redwood Wealth Management Group LLC Acquires Shares of 4,875 Costamare Inc. (NYSE:CMRE)

Redwood Wealth Management Group LLC acquired a new stake in Costamare Inc. (NYSE:CMRE) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 4,875 shares of the shipping company’s stock, valued at approximately $80,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in Costamare by 197.8% during the fourth quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 2,696 shares during the period. Quarry LP raised its stake in shares of Costamare by 48.5% during the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock valued at $44,000 after buying an additional 1,376 shares during the last quarter. CWM LLC lifted its holdings in shares of Costamare by 53.6% in the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock valued at $71,000 after buying an additional 1,502 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Costamare in the first quarter worth about $132,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Costamare by 12.7% in the fourth quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock worth $138,000 after buying an additional 1,498 shares during the last quarter. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Price Performance

Shares of Costamare stock opened at $13.60 on Monday. The firm has a market cap of $1.60 billion, a PE ratio of 5.27 and a beta of 1.37. Costamare Inc. has a twelve month low of $8.54 and a twelve month high of $17.58. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $14.15 and a 200 day moving average price of $13.59.

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

Costamare Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.38%. Costamare’s dividend payout ratio is currently 17.83%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CMRE shares. Jefferies Financial Group lifted their price target on Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Costamare from a “hold” rating to a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th.

Costamare Company Profile