COSTAMARE INC/SH (NYSE:CMRE) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,890,000 shares, a drop of 20.3% from the August 15th total of 2,370,000 shares. Based on an average daily volume of 755,300 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.7% of the company’s stock are short sold.
A number of institutional investors have recently made changes to their positions in CMRE. Prudential Financial Inc. raised its position in COSTAMARE INC/SH by 89.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,637,581 shares of the shipping company’s stock valued at $9,105,000 after buying an additional 773,516 shares during the last quarter. Cape Ann Asset Management Ltd raised its position in COSTAMARE INC/SH by 26.0% in the 1st quarter. Cape Ann Asset Management Ltd now owns 2,704,788 shares of the shipping company’s stock valued at $12,226,000 after buying an additional 557,840 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of COSTAMARE INC/SH by 122.0% during the 1st quarter. JPMorgan Chase & Co. now owns 872,848 shares of the shipping company’s stock worth $3,946,000 after purchasing an additional 479,713 shares during the last quarter. Navellier & Associates Inc increased its position in shares of COSTAMARE INC/SH by 141.2% during the 1st quarter. Navellier & Associates Inc now owns 370,715 shares of the shipping company’s stock worth $1,676,000 after purchasing an additional 216,996 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of COSTAMARE INC/SH by 36.2% during the 1st quarter. Wells Fargo & Company MN now owns 692,032 shares of the shipping company’s stock worth $3,128,000 after purchasing an additional 183,776 shares during the last quarter. 27.46% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on CMRE. Zacks Investment Research lowered COSTAMARE INC/SH from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. Stifel Nicolaus raised COSTAMARE INC/SH from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.50 to $8.00 in a research report on Tuesday, July 21st. Finally, TheStreet lowered COSTAMARE INC/SH from a “b-” rating to a “c-” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. COSTAMARE INC/SH has an average rating of “Hold” and an average price target of $7.00.
COSTAMARE INC/SH stock traded up $0.38 during midday trading on Wednesday, reaching $5.94. The stock had a trading volume of 1,109,789 shares, compared to its average volume of 824,480. The firm’s fifty day simple moving average is $5.04 and its 200-day simple moving average is $4.95. COSTAMARE INC/SH has a 1-year low of $3.16 and a 1-year high of $10.85. The stock has a market capitalization of $720.79 million, a P/E ratio of -593.41 and a beta of 2.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.91 and a current ratio of 0.95.
COSTAMARE INC/SH (NYSE:CMRE) last announced its earnings results on Monday, July 27th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. COSTAMARE INC/SH had a return on equity of 11.79% and a net margin of 5.90%. The business had revenue of $111.87 million for the quarter, compared to analyst estimates of $120.41 million. On average, sell-side analysts anticipate that COSTAMARE INC/SH will post 1.03 earnings per share for the current fiscal year.
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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