JPMorgan Chase & Co. Boosts Stake in Costamare Inc (CMRE)

JPMorgan Chase & Co. increased its position in Costamare Inc (NYSE:CMRE) by 23.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,210,466 shares of the shipping company’s stock after purchasing an additional 608,762 shares during the period. JPMorgan Chase & Co. owned 3.00% of Costamare worth $20,098,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CMRE. Q Global Advisors LLC purchased a new stake in shares of Costamare in the 2nd quarter valued at about $7,227,000. Chiron Investment Management LLC purchased a new stake in shares of Costamare in the 2nd quarter valued at about $6,850,000. Dimensional Fund Advisors LP purchased a new stake in shares of Costamare in the 2nd quarter valued at about $6,356,000. Thrivent Financial For Lutherans lifted its holdings in shares of Costamare by 199,200.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 398,600 shares of the shipping company’s stock valued at $2,913,000 after purchasing an additional 398,400 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of Costamare in the 2nd quarter valued at about $2,302,000. 25.79% of the stock is owned by institutional investors and hedge funds.

Costamare Inc (NYSE:CMRE) opened at $5.86 on Friday. The stock has a market capitalization of $626.35, a PE ratio of 6.66, a P/E/G ratio of 1.55 and a beta of 2.11. Costamare Inc has a 52-week low of $5.07 and a 52-week high of $8.18. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.92.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Tuesday, October 24th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $98.40 million for the quarter, compared to analysts’ expectations of $100.24 million. Costamare had a return on equity of 7.57% and a net margin of 14.03%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. equities analysts expect that Costamare Inc will post 0.76 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the company. ValuEngine raised Costamare from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Costamare from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. BidaskClub cut Costamare from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Credit Suisse Group set a $7.00 price target on Costamare and gave the company a “hold” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $7.00 price target on shares of Costamare in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.04.

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About Costamare

Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.

Institutional Ownership by Quarter for Costamare (NYSE:CMRE)

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