Short Interest in Costamare Inc. (NYSE:CMRE) Drops By 6.7%

Costamare Inc. (NYSE:CMRE) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,490,000 shares, a decline of 6.7% from the August 15th total of 2,670,000 shares. Approximately 5.8% of the shares of the company are short sold. Based on an average daily volume of 576,400 shares, the short-interest ratio is presently 4.3 days.

Analyst Ratings Changes

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

Costamare Stock Performance

NYSE CMRE opened at $13.78 on Wednesday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 5.34 and a beta of 1.37. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 0.77. Costamare has a 1-year low of $8.54 and a 1-year high of $17.58. The company has a 50 day moving average of $14.12 and a 200-day moving average of $13.61.

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

Costamare Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 19th were given 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 3.34%. Costamare’s payout ratio is 17.83%.

Institutional Trading of Costamare

Hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Costamare in the 2nd quarter valued at $185,000. B. Riley Wealth Advisors Inc. boosted its stake in Costamare by 39.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 16,188 shares of the shipping company’s stock valued at $266,000 after acquiring an additional 4,544 shares during the last quarter. Creative Planning lifted its stake in shares of Costamare by 5.2% in the 2nd quarter. Creative Planning now owns 55,067 shares of the shipping company’s stock valued at $905,000 after purchasing an additional 2,703 shares during the period. Susquehanna Fundamental Investments LLC boosted its position in shares of Costamare by 408.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 118,495 shares of the shipping company’s stock worth $1,947,000 after purchasing an additional 95,196 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Costamare by 69.8% in the second quarter. AQR Capital Management LLC now owns 77,622 shares of the shipping company’s stock valued at $1,275,000 after purchasing an additional 31,896 shares during the last quarter. 58.08% of the stock is owned by institutional investors.

Costamare Company Profile