Costamare Inc. (NYSE:CMRE) Short Interest Update

Costamare Inc. (NYSE:CMREGet Free Report) saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 1,390,000 shares, a growth of 12.1% from the April 15th total of 1,240,000 shares. Based on an average trading volume of 405,200 shares, the short-interest ratio is presently 3.4 days. Approximately 3.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on Costamare

Costamare Trading Up 0.9 %

Costamare stock traded up $0.12 during mid-day trading on Wednesday, hitting $14.02. The company’s stock had a trading volume of 675,722 shares, compared to its average volume of 455,801. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.91 and a quick ratio of 1.59. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 5.39 and a beta of 1.32. The business has a 50 day moving average price of $11.63 and a 200-day moving average price of $10.79. Costamare has a 12 month low of $7.71 and a 12 month high of $14.06.

Costamare Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Friday, April 19th were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Thursday, April 18th. Costamare’s dividend payout ratio (DPR) is 17.83%.

Hedge Funds Weigh In On Costamare

Several hedge funds and other institutional investors have recently modified their holdings of CMRE. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Costamare by 1,282.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,428 shares of the shipping company’s stock valued at $2,063,000 after acquiring an additional 198,922 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Costamare by 16.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,313,829 shares of the shipping company’s stock valued at $13,677,000 after buying an additional 183,193 shares during the period. Russell Investments Group Ltd. increased its position in shares of Costamare by 56,543.3% during the first quarter. Russell Investments Group Ltd. now owns 143,874 shares of the shipping company’s stock valued at $1,633,000 after buying an additional 143,620 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Costamare by 177.5% during the third quarter. Los Angeles Capital Management LLC now owns 208,277 shares of the shipping company’s stock valued at $2,004,000 after buying an additional 133,225 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Costamare by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,069,284 shares of the shipping company’s stock valued at $73,591,000 after buying an additional 107,756 shares during the period. 58.08% of the stock is owned by institutional investors.

About Costamare

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