Susquehanna Portfolio Strategies LLC Sells 13,523 Shares of Costamare Inc. (NYSE:CMRE)

Susquehanna Portfolio Strategies LLC decreased its holdings in Costamare Inc. (NYSE:CMRE) by 55.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,783 shares of the shipping company’s stock after selling 13,523 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Costamare were worth $177,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of 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 boosted its stake in shares of Costamare by 48.5% in the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after buying an additional 1,376 shares during the last quarter. CWM LLC grew its holdings in shares of Costamare by 53.6% in the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after acquiring an additional 1,502 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in Costamare during the second quarter valued at $80,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Costamare in the first quarter valued at about $132,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Down 1.8 %

NYSE CMRE opened at $15.53 on Monday. Costamare Inc. has a 52 week low of $8.54 and a 52 week 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 company has a market capitalization of $1.83 billion, a P/E ratio of 6.02 and a beta of 1.37. The stock’s 50-day moving average price is $14.05 and its 200-day moving average price is $13.83.

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

Analysts Set New Price Targets

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

About Costamare