Costamare Inc. (NYSE:CMRE) Short Interest Down 6.7% in August

Costamare Inc. (NYSE:CMRE) was the recipient of a large decline in short interest in 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. Based on an average trading volume of 576,400 shares, the short-interest ratio is presently 4.3 days. Currently, 5.8% of the company’s stock are sold short.

Hedge Funds Weigh In On Costamare

Large investors have recently modified their holdings of the company. Unison Advisors LLC increased its holdings in Costamare by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 82,707 shares of the shipping company’s stock worth $1,359,000 after purchasing an additional 854 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Costamare by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 74,571 shares of the shipping company’s stock valued at $1,225,000 after acquiring an additional 990 shares in the last quarter. Quarry LP grew 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 acquiring an additional 1,376 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Costamare by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 40,427 shares of the shipping company’s stock worth $459,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Costamare by 12.7% in the fourth quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock valued at $138,000 after acquiring an additional 1,498 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Costamare Price Performance

Costamare stock opened at $13.78 on Wednesday. The stock has a fifty day moving average of $14.12 and a 200-day moving average of $13.61. The stock has a market capitalization of $1.62 billion, a P/E ratio of 5.34 and a beta of 1.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.54 and a current ratio of 1.61. Costamare has a 52 week low of $8.54 and a 52 week high of $17.58.

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. The company had revenue of $515.42 million for the quarter, compared to analyst estimates of $380.41 million. Costamare had a return on equity of 13.63% and a net margin of 19.63%. On average, sell-side analysts expect that Costamare will post 3.05 earnings per share for the current fiscal year.

Costamare Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 19th were issued a $0.115 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.46 annualized dividend and a yield of 3.34%. Costamare’s payout ratio is currently 17.83%.

Costamare Company Profile