Costamare Inc. (NYSE:CMRE) Short Interest Update

Costamare Inc. (NYSE:CMRE) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,620,000 shares, a growth of 5.2% from the August 31st total of 2,490,000 shares. Currently, 6.1% of the company’s shares are sold short. Based on an average daily trading volume, of 520,700 shares, the days-to-cover ratio is currently 5.0 days.

Costamare Stock Down 1.9 %

CMRE stock traded down $0.30 during midday trading on Tuesday, hitting $15.42. 344,147 shares of the company’s stock were exchanged, compared to its average volume of 519,108. The firm has a 50 day moving average price of $14.08 and a 200-day moving average price of $13.89. Costamare has a 12-month low of $8.54 and a 12-month high of $17.58. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 5.98 and a beta of 1.37. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 0.77.

Costamare (NYSE:CMRE) last announced its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.77 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $515.42 million for the quarter, compared to analysts’ expectations of $380.41 million. On average, analysts anticipate that Costamare will post 3.05 EPS for the current year.

Hedge Funds Weigh In On Costamare

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in shares of Costamare by 197.8% during the fourth 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 last quarter. Quarry LP grew its stake in Costamare by 48.5% during the 4th quarter. Quarry LP now owns 4,216 shares of the shipping company’s stock worth $44,000 after buying an additional 1,376 shares during the last quarter. CWM LLC increased its position in Costamare by 53.6% in the second quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after buying an additional 1,502 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in Costamare in the second quarter worth $80,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Costamare in the first quarter valued at $132,000. Institutional investors and hedge funds own 58.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Costamare from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price objective on shares of Costamare from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded Costamare from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd.

About Costamare