Denali Advisors LLC Purchases 8,300 Shares of Costamare Inc. (NYSE:CMRE)

Denali Advisors LLC lifted its position in shares of Costamare Inc. (NYSE:CMRE) by 1.7% in the 4th quarter, Holdings Channel reports. The fund owned 508,195 shares of the shipping company’s stock after buying an additional 8,300 shares during the quarter. Denali Advisors LLC’s holdings in Costamare were worth $6,530,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in Costamare in the 3rd quarter valued at about $35,000. Quarry LP raised its position in shares of Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 2,003 shares during the period. Blue Trust Inc. lifted its stake in shares of Costamare by 2,540.4% during the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after buying an additional 7,113 shares in the last quarter. US Bancorp DE boosted its holdings in Costamare by 1,385.2% in the 3rd quarter. US Bancorp DE now owns 11,837 shares of the shipping company’s stock worth $186,000 after buying an additional 11,040 shares during the period. Finally, Intech Investment Management LLC bought a new position in Costamare in the 3rd quarter worth approximately $195,000. Institutional investors own 58.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Jefferies Financial Group restated a “hold” rating and set a $13.00 target price on shares of Costamare in a research report on Wednesday, February 5th. StockNews.com lowered Costamare from a “buy” rating to a “hold” rating in a research note on Friday, January 31st.

Costamare Price Performance

Shares of NYSE:CMRE opened at $10.09 on Wednesday. The company has a 50 day moving average of $11.85 and a 200 day moving average of $13.22. 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 market cap of $1.21 billion, a P/E ratio of 4.13 and a beta of 1.31. Costamare Inc. has a 12 month low of $10.08 and a 12 month high of $17.58.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Wednesday, February 5th. The shipping company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. Costamare had a net margin of 15.14% and a return on equity of 14.03%. As a group, sell-side analysts forecast that Costamare Inc. will post 2.52 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 4.56%. Costamare’s dividend payout ratio is currently 18.85%.

Costamare Profile