Costamare Inc. (NYSE:CMRE) Short Interest Update

Costamare Inc. (NYSE:CMRE) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,210,000 shares, a decline of 9.4% from the November 15th total of 2,440,000 shares. Based on an average trading volume of 320,200 shares, the short-interest ratio is currently 6.9 days. Approximately 5.1% of the shares of the company are sold short.

Costamare Price Performance

Shares of NYSE CMRE traded down $0.05 during midday trading on Tuesday, hitting $12.64. The company had a trading volume of 336,272 shares, compared to its average volume of 470,994. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 4.20 and a beta of 1.34. Costamare has a twelve month low of $9.99 and a twelve month high of $17.58. The business has a 50-day simple moving average of $13.77 and a two-hundred day simple moving average of $14.45. 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 posted its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The company had revenue of $544.64 million during the quarter, compared to the consensus estimate of $434.13 million. Costamare had a net margin of 19.11% and a return on equity of 14.28%. During the same period last year, the firm earned $0.46 EPS. Equities research analysts anticipate that Costamare will post 2.83 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, October 21st. Costamare’s dividend payout ratio (DPR) is 15.28%.

Analyst Ratings Changes

A number of research firms recently weighed in on CMRE. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Costamare in a report on Friday, November 1st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Costamare by 1,322.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock valued at $24,119,000 after acquiring an additional 1,366,344 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Costamare by 25,731.0% in the second quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock valued at $6,595,000 after purchasing an additional 399,860 shares in the last quarter. Marshall Wace LLP grew its position in shares of Costamare by 985.5% in the second quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock valued at $5,875,000 after purchasing an additional 324,618 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Costamare during the 3rd quarter worth approximately $4,032,000. Finally, American Century Companies Inc. raised its position in shares of Costamare by 62.9% during the 2nd quarter. American Century Companies Inc. now owns 621,764 shares of the shipping company’s stock worth $10,216,000 after purchasing an additional 239,970 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

About Costamare