Short Interest in Costamare Inc. (NYSE:CMRE) Rises By 12.1%

Costamare Inc. (NYSE:CMRE) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 1,390,000 shares, an increase of 12.1% from the April 15th total of 1,240,000 shares. Based on an average daily volume of 405,200 shares, the short-interest ratio is presently 3.4 days. Currently, 3.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research analysts have recently commented on CMRE shares. Stifel Nicolaus lifted their price objective on Costamare from $11.50 to $12.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Jefferies Financial Group lifted their target price on shares of Costamare from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, StockNews.com raised shares of Costamare from a “hold” rating to a “strong-buy” rating in a research report on Monday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in shares of Costamare by 197.8% in the 4th quarter. Parallel Advisors LLC now owns 4,059 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 2,696 shares during the period. Quarry LP lifted its position in Costamare by 48.5% during the fourth quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock valued at $44,000 after buying an additional 1,376 shares during the period. Ballentine Partners LLC bought a new stake in shares of Costamare during the 4th quarter valued at $114,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Costamare in the 1st quarter worth about $132,000. Finally, Raymond James & Associates bought a new position in shares of Costamare in the 4th quarter worth about $135,000. 58.08% of the stock is owned by hedge funds and other institutional investors.

Costamare Trading Up 1.9 %

NYSE CMRE traded up $0.27 on Friday, hitting $14.72. The company’s stock had a trading volume of 331,005 shares, compared to its average volume of 457,997. The company has a current ratio of 1.91, a quick ratio of 1.59 and a debt-to-equity ratio of 0.80. Costamare has a 52-week low of $7.71 and a 52-week high of $14.76. The firm has a market cap of $1.73 billion, a P/E ratio of 5.60 and a beta of 1.32. The company’s 50-day simple moving average is $11.74 and its 200 day simple moving average is $10.83.

Costamare Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Friday, April 19th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Thursday, April 18th. Costamare’s dividend payout ratio (DPR) is currently 17.83%.

Costamare Company Profile