Costamare Inc. (NYSE:CMRE) Short Interest Up 6.1% in November

Costamare Inc. (NYSE:CMRE) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,440,000 shares, a growth of 6.1% from the October 31st total of 2,300,000 shares. Currently, 5.7% of the company’s shares are short sold. Based on an average daily volume of 330,200 shares, the short-interest ratio is currently 7.4 days.

Hedge Funds Weigh In On Costamare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its position in shares of Costamare by 1,322.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,469,697 shares of the shipping company’s stock worth $24,119,000 after purchasing an additional 1,366,344 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Costamare by 25,731.0% during the 2nd quarter. Federated Hermes Inc. now owns 401,414 shares of the shipping company’s stock worth $6,595,000 after purchasing an additional 399,860 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Costamare by 985.5% during the 2nd quarter. Marshall Wace LLP now owns 357,557 shares of the shipping company’s stock worth $5,875,000 after purchasing an additional 324,618 shares during the last quarter. Foundry Partners LLC purchased a new stake in shares of Costamare during the 3rd quarter worth $4,032,000. Finally, American Century Companies Inc. lifted 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.

Wall Street Analysts Forecast Growth

CMRE has been the subject of several research reports. StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 target price on shares of Costamare in a report on Friday, November 1st.

Costamare Stock Performance

Shares of CMRE stock opened at $13.19 on Thursday. 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 has a 52 week low of $9.16 and a 52 week high of $17.58. The stock has a market capitalization of $1.55 billion, a PE ratio of 4.33 and a beta of 1.34. The firm has a 50 day moving average of $14.23 and a two-hundred day moving average of $14.59.

Costamare (NYSE:CMRE) last issued its quarterly earnings results on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. Costamare had a net margin of 19.11% and a return on equity of 14.28%. The company had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same quarter last year, the company posted $0.46 EPS. On average, research analysts predict that Costamare will post 2.83 EPS for the current fiscal year.

Costamare Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a $0.115 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.46 annualized dividend and a yield of 3.49%. Costamare’s dividend payout ratio is presently 15.28%.

Costamare Company Profile