Costamare Inc (CMRE): Are Hedge Funds Right About This Stock?

Page 1 of 2

Costamare Inc (NYSE:CMRE) was in 6 hedge funds’ portfolio at the end of the fourth quarter of 2012. CMRE has experienced an increase in enthusiasm from smart money lately. There were 4 hedge funds in our database with CMRE holdings at the end of the previous quarter.

To most investors, hedge funds are viewed as unimportant, outdated financial tools of years past. While there are greater than 8000 funds with their doors open at the moment, we choose to focus on the masters of this club, close to 450 funds. It is widely believed that this group oversees the majority of all hedge funds’ total capital, and by paying attention to their best investments, we have come up with a number of investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 24 percentage points in 7 months (explore the details and some picks here).

Just as important, optimistic insider trading activity is another way to break down the investments you’re interested in. Obviously, there are lots of stimuli for an executive to drop shares of his or her company, but just one, very simple reason why they would buy. Several empirical studies have demonstrated the impressive potential of this tactic if you understand what to do (learn more here).

Consequently, let’s take a peek at the recent action encompassing Costamare Inc (NYSE:CMRE).

What have hedge funds been doing with Costamare Inc (NYSE:CMRE)?

Heading into 2013, a total of 6 of the hedge funds we track were long in this stock, a change of 50% from the third quarter. With the smart money’s sentiment swirling, there exists a select group of noteworthy hedge fund managers who were upping their stakes considerably.

Costamare Inc (NYSE:CMRE)According to our comprehensive database, Citadel Investment Group, managed by Ken Griffin, holds the largest position in Costamare Inc (NYSE:CMRE). Citadel Investment Group has a $13.3 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Contrarian Capital, managed by Jon Bauer, which held a $1.1 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Remaining hedgies that hold long positions include John Overdeck and David Siegel’s Two Sigma Advisors, D. E. Shaw’s D E Shaw and Israel Englander’s Millennium Management.

As one would reasonably expect, key hedge funds were breaking ground themselves. Millennium Management, managed by Israel Englander, assembled the biggest position in Costamare Inc (NYSE:CMRE). Millennium Management had 0.3 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $0.2 million investment in the stock during the quarter.

How have insiders been trading Costamare Inc (NYSE:CMRE)?

Insider purchases made by high-level executives is particularly usable when the company we’re looking at has experienced transactions within the past six months. Over the last six-month time frame, Costamare Inc (NYSE:CMRE) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to Costamare Inc (NYSE:CMRE). These stocks are Ship Finance International Limited (NYSE:SFL), Seacor Holdings, Inc. (NYSE:CKH), Alexander & Baldwin Holdings Inc (NYSE:MATX), Scorpio Tankers Inc. (NYSE:STNG), and Seaspan Corporation (NYSE:SSW). This group of stocks are in the shipping industry and their market caps match CMRE’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!