Costamare Inc. (NYSE:CMRE) Short Interest Down 9.4% in November

Costamare Inc. (NYSE:CMRE) was the recipient of a significant decline in short interest in 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 daily volume of 320,200 shares, the days-to-cover ratio is presently 6.9 days. Currently, 5.1% of the company’s stock are sold short.

Institutional Trading of Costamare

Large investors have recently bought and sold shares of the business. nVerses Capital LLC lifted its holdings 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 valued at $28,000 after purchasing an additional 1,700 shares in the last quarter. Gladius Capital Management LP acquired a new position in Costamare during the 3rd quarter worth approximately $35,000. Quarry LP boosted its position in Costamare by 157.5% during the 3rd quarter. Quarry LP now owns 3,275 shares of the shipping company’s stock worth $51,000 after acquiring an additional 2,003 shares during the last quarter. CWM LLC grew its stake in shares of Costamare by 53.6% during the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after acquiring an additional 1,502 shares in the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of Costamare in the second quarter valued at approximately $80,000. 58.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CMRE shares. Jefferies Financial Group reissued a “hold” rating and set a $13.00 target price on shares of Costamare in a research report on Friday, November 1st. StockNews.com downgraded Costamare from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Costamare Price Performance

NYSE:CMRE traded up $0.07 during mid-day trading on Friday, reaching $12.95. 189,397 shares of the company were exchanged, compared to its average volume of 472,481. The company has a fifty day moving average of $13.86 and a 200 day moving average of $14.50. Costamare has a 12 month low of $9.68 and a 12 month high of $17.58. The company has a quick ratio of 1.56, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.52 billion, a PE ratio of 4.30 and a beta of 1.34.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Friday, November 1st. The shipping company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. Costamare had a return on equity of 14.28% and a net margin of 19.11%. The business had revenue of $544.64 million during the quarter, compared to analysts’ expectations of $434.13 million. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, research analysts anticipate that Costamare will post 2.83 EPS for the current fiscal year.

Costamare Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, October 21st. Costamare’s dividend payout ratio is currently 15.28%.

About Costamare