Costamare Inc. (NYSE:CMRE) Sees Significant Decrease in Short Interest

Costamare Inc. (NYSE:CMRE) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 1,700,000 shares, a decrease of 14.6% from the December 31st total of 1,990,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 293,400 shares, the days-to-cover ratio is presently 5.8 days.

Hedge Funds Weigh In On Costamare

A number of hedge funds have recently made changes to their positions in the business. nVerses Capital LLC increased its stake in shares of Costamare by 1,700.0% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after buying an additional 1,700 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Costamare during the third quarter worth about $35,000. Quarry LP grew its stake in Costamare by 157.5% in the third quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after purchasing an additional 2,003 shares in the last quarter. Blue Trust Inc. raised its stake in Costamare by 2,540.4% during the third quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after buying an additional 7,113 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Costamare in the 2nd quarter worth approximately $185,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Trading Down 1.5 %

Shares of CMRE traded down $0.17 during mid-day trading on Friday, hitting $11.64. The company had a trading volume of 167,204 shares, compared to its average volume of 332,571. Costamare has a 1-year low of $10.14 and a 1-year high of $17.58. The business’s 50-day simple moving average is $12.75 and its 200-day simple moving average is $13.70. The stock has a market cap of $1.37 billion, a PE ratio of 3.86 and a beta of 1.33. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Costamare (NYSE:CMRE) last issued its earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $544.64 million for the quarter, compared to analysts’ expectations of $434.13 million. Costamare had a return on equity of 14.28% and a net margin of 19.11%. During the same quarter last year, the firm earned $0.46 earnings per share. Sell-side analysts forecast that Costamare will post 2.74 earnings per share for the current year.

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.115 per share. The ex-dividend date is Tuesday, January 21st. This represents a $0.46 dividend on an annualized basis and a yield of 3.95%. Costamare’s dividend payout ratio (DPR) is 15.28%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Financial Group restated a “hold” rating and set a $13.00 price objective on shares of Costamare in a report on Friday, November 1st.

Costamare Company Profile