COSTAMARE INC/SH (NYSE:CMRE) Sees Significant Decrease in Short Interest
COSTAMARE INC/SH (NYSE:CMRE) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 1,621,600 shares, a decline of 10.8% from the June 30th total of 1,817,800 shares. Based on an average trading volume of 323,100 shares, the short-interest ratio is presently 5.0 days. Approximately 3.4% of the shares of the company are sold short.
A number of hedge funds and other institutional investors have recently bought and sold shares of CMRE. BlackRock Inc. lifted its position in COSTAMARE INC/SH by 1.5% during the fourth quarter. BlackRock Inc. now owns 2,513,813 shares of the shipping company’s stock valued at $11,036,000 after purchasing an additional 37,755 shares in the last quarter. Northern Trust Corp lifted its position in COSTAMARE INC/SH by 0.5% during the fourth quarter. Northern Trust Corp now owns 490,786 shares of the shipping company’s stock valued at $2,155,000 after purchasing an additional 2,503 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in COSTAMARE INC/SH by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,812,723 shares of the shipping company’s stock valued at $16,738,000 after purchasing an additional 163,812 shares in the last quarter. Geode Capital Management LLC lifted its position in COSTAMARE INC/SH by 14.0% during the fourth quarter. Geode Capital Management LLC now owns 176,941 shares of the shipping company’s stock valued at $776,000 after purchasing an additional 21,764 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in COSTAMARE INC/SH during the fourth quarter valued at $75,000. Institutional investors own 21.29% of the company’s stock.
CMRE traded down $0.07 on Thursday, reaching $5.14. The company had a trading volume of 225,062 shares, compared to its average volume of 319,935. COSTAMARE INC/SH has a 1 year low of $4.20 and a 1 year high of $7.29. The company has a market cap of $585.92 million, a PE ratio of 12.29, a PEG ratio of 1.79 and a beta of 2.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.82 and a quick ratio of 0.79. The stock’s 50-day simple moving average is $5.53.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were paid a $0.10 dividend. The ex-dividend date was Friday, July 19th. This represents a $0.40 dividend on an annualized basis and a yield of 7.78%. COSTAMARE INC/SH’s dividend payout ratio is presently 95.24%.
A number of brokerages recently weighed in on CMRE. Zacks Investment Research raised shares of COSTAMARE INC/SH from a “hold” rating to a “strong-buy” rating and set a $6.00 price target for the company in a research report on Tuesday, July 23rd. TheStreet raised shares of COSTAMARE INC/SH from a “d+” rating to a “c” rating in a research report on Thursday, July 25th. Finally, ValuEngine cut shares of COSTAMARE INC/SH from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $7.00.
COSTAMARE INC/SH Company Profile
Costamare Inc owns and charters containerships to liner companies worldwide. As of February 27, 2019, it had a fleet of 78 containerships with a total capacity of approximately 548,000 twenty foot equivalent unit (TEU), including 73 vessels in the water, aggregating approximately 484,000 TEU; and 5 new build vessels of 64,000 TEU.
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