Costamare Inc. (NYSE:CMRE) Short Interest Down 7.8% in October

Costamare Inc. (NYSE:CMRE) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,380,000 shares, a drop of 7.8% from the September 30th total of 2,580,000 shares. Based on an average daily trading volume, of 387,000 shares, the short-interest ratio is currently 6.1 days. Currently, 5.6% of the company’s shares are short sold.

Costamare Stock Up 3.1 %

Shares of Costamare stock traded up $0.40 during trading hours on Thursday, reaching $13.62. 343,438 shares of the company were exchanged, compared to its average volume of 498,537. The firm has a market cap of $1.60 billion, a PE ratio of 5.28 and a beta of 1.37. The stock’s fifty day moving average is $14.16 and its 200 day moving average is $14.30. Costamare has a 1 year low of $8.54 and a 1 year high of $17.58. 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 (NYSE:CMRE) last issued its quarterly earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $380.41 million. As a group, equities research analysts forecast that Costamare will post 3.05 earnings per share for the current year.

Costamare Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.46 annualized dividend and a yield of 3.38%. Costamare’s dividend payout ratio (DPR) is 17.83%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CMRE. Jefferies Financial Group boosted their price objective on Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their price target on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMRE. nVerses Capital LLC boosted its position in shares of Costamare by 1,700.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock worth $28,000 after acquiring an additional 1,700 shares in the last quarter. CWM LLC increased its position in shares of Costamare by 53.6% during the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,502 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in shares of Costamare in the 2nd quarter valued at about $80,000. Blue Trust Inc. boosted its position in shares of Costamare by 2,540.4% in the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock valued at $121,000 after purchasing an additional 7,113 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Costamare during the 1st quarter worth approximately $132,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Costamare Company Profile