Costamare Target of Unusually Large Options Trading (CMRE)

Costamare Inc (NYSE:CMRE) was the target of some unusual options trading on Wednesday. Stock traders acquired 758 call options on the company. This represents an increase of approximately 1,103% compared to the average volume of 63 call options.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its holdings in shares of Costamare by 42.4% in the third quarter. GSA Capital Partners LLP now owns 52,874 shares of the shipping company’s stock worth $327,000 after buying an additional 15,739 shares during the period. Algert Global LLC increased its holdings in shares of Costamare by 14.1% in the third quarter. Algert Global LLC now owns 377,366 shares of the shipping company’s stock worth $2,332,000 after buying an additional 46,642 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Costamare in the third quarter worth about $124,000. Allianz Asset Management GmbH purchased a new position in shares of Costamare in the third quarter worth about $370,000. Finally, Signia Capital Management LLC increased its holdings in shares of Costamare by 2.9% in the third quarter. Signia Capital Management LLC now owns 514,006 shares of the shipping company’s stock worth $3,177,000 after buying an additional 14,326 shares during the period. Hedge funds and other institutional investors own 25.62% of the company’s stock.

Shares of Costamare (NYSE:CMRE) opened at $6.14 on Friday. Costamare has a 12-month low of $5.07 and a 12-month high of $8.18. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.92 and a current ratio of 0.96. The firm has a market capitalization of $660.41, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.66 and a beta of 2.10.

Costamare (NYSE:CMRE) last released its quarterly earnings results on Tuesday, October 24th. The shipping company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. Costamare had a return on equity of 7.57% and a net margin of 14.03%. The business had revenue of $98.40 million for the quarter, compared to the consensus estimate of $100.24 million. During the same quarter last year, the business posted $0.37 earnings per share. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. equities research analysts forecast that Costamare will post 0.76 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 6th. Stockholders of record on Tuesday, January 23rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, January 22nd. This represents a $0.40 annualized dividend and a dividend yield of 6.51%. Costamare’s dividend payout ratio is currently 111.11%.

A number of research firms have weighed in on CMRE. Stifel Nicolaus restated a “hold” rating and set a $7.00 price target on shares of Costamare in a research report on Thursday, October 12th. Zacks Investment Research downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Tuesday. Credit Suisse Group set a $7.00 price target on Costamare and gave the company a “hold” rating in a research report on Wednesday, October 25th. ValuEngine upgraded Costamare from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub downgraded Costamare from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Costamare currently has an average rating of “Hold” and a consensus price target of $7.00.

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Costamare Company Profile

Costamare Inc (Costamare) is a holding company. The Company is an international owner of containerships. The Company is engaged in chartering its vessels to various liner companies. The Company provides marine transportation services around the world by chartering its container vessels to liner operators under long, medium and short-term time charters.

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