Costamare Inc. (NYSE:CMRE) Short Interest Update

Costamare Inc. (NYSE:CMRE) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 1,270,000 shares, a decline of 6.6% from the March 15th total of 1,360,000 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily volume of 441,300 shares, the short-interest ratio is currently 2.9 days.

Hedge Funds Weigh In On Costamare

Several hedge funds have recently bought and sold shares of CMRE. LPL Financial LLC grew its holdings in shares of Costamare by 5.4% during the second quarter. LPL Financial LLC now owns 18,543 shares of the shipping company’s stock worth $179,000 after buying an additional 954 shares in the last quarter. Unison Advisors LLC grew its stake in Costamare by 1.2% in the 4th quarter. Unison Advisors LLC now owns 81,014 shares of the shipping company’s stock worth $843,000 after acquiring an additional 977 shares during the period. SummerHaven Investment Management LLC raised its holdings in Costamare by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 72,729 shares of the shipping company’s stock valued at $757,000 after acquiring an additional 1,083 shares during the last quarter. Quarry LP lifted its stake in shares of 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 purchasing an additional 1,376 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Costamare by 12.7% during the fourth quarter. Victory Capital Management Inc. now owns 13,252 shares of the shipping company’s stock worth $138,000 after purchasing an additional 1,498 shares during the last quarter. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Costamare Stock Down 1.4 %

Costamare stock opened at $10.84 on Thursday. Costamare has a fifty-two week low of $7.71 and a fifty-two week high of $11.85. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 3.67 and a beta of 1.38. The stock’s fifty day moving average is $11.25 and its two-hundred day moving average is $10.39. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.59 and a current ratio of 1.69.

Costamare (NYSE:CMRE) last issued its quarterly earnings data on Wednesday, February 7th. The shipping company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $494.85 million for the quarter, compared to analysts’ expectations of $419.00 million. Costamare had a net margin of 25.26% and a return on equity of 11.37%. During the same period in the prior year, the company earned $0.61 EPS. Analysts predict that Costamare will post 2.73 EPS for the current fiscal year.

Costamare Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Friday, April 19th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, April 18th. Costamare’s payout ratio is currently 15.59%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Costamare from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th.

About Costamare

Costamare Inc engages in owning and chartering containerships and dry bulk vessels that are chartered to liner companies providing transportation of cargoes worldwide. As of March 21, 2023, it had a fleet of fleet of 71 containerships and 45 dry bulk vessels. The company was founded in 1974 and is based in Monaco.