Insider Selling: Costamare (NYSE:CMRE) CFO Sells $917,945.60 in Stock

Costamare Inc. (NYSE:CMRE) CFO Grigorios Zikos sold 59,840 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $15.34, for a total value of $917,945.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Costamare Stock Down 0.1%

CMRE stock opened at $15.51 on Friday. Costamare Inc. has a twelve month low of $9.71 and a twelve month high of $18.06. The company has a quick ratio of 1.92, a current ratio of 1.61 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $15.31 and its 200-day moving average is $16.28. The firm has a market capitalization of $1.87 billion, a PE ratio of 5.90 and a beta of 1.06.

Costamare (NYSE:CMRE) last announced its quarterly earnings results on Monday, July 27th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The business had revenue of $196.24 million during the quarter, compared to the consensus estimate of $193.16 million. Costamare had a return on equity of 15.11% and a net margin of 39.66%.

Costamare Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, July 21st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $0.50 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Costamare’s previous quarterly dividend of $0.12. Costamare’s payout ratio is presently 19.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CMRE shares. Fearnley Fonds upgraded shares of Costamare from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Costamare from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Wall Street Zen cut shares of Costamare from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CMRE. Cubist Systematic Strategies LLC bought a new stake in shares of Costamare during the 1st quarter worth $192,000. Millennium Management LLC bought a new position in Costamare during the first quarter valued at about $6,075,000. Dynamic Technology Lab Private Ltd grew its position in Costamare by 13.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company’s stock valued at $188,000 after buying an additional 2,267 shares during the period. Goldman Sachs Group Inc. increased its holdings in Costamare by 42.2% during the first quarter. Goldman Sachs Group Inc. now owns 479,822 shares of the shipping company’s stock worth $4,721,000 after buying an additional 142,372 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in Costamare by 156.9% during the first quarter. Jane Street Group LLC now owns 200,984 shares of the shipping company’s stock worth $1,978,000 after buying an additional 122,737 shares during the last quarter. Institutional investors own 58.08% of the company’s stock.

Costamare Company Profile

Costamare Inc is a leading owner and manager of containerships, specializing in the acquisition, chartering and operation of modern container vessels. The company secures employment for its fleet under a mix of long‐term and short‐term agreements, providing vital capacity to major shipping lines and leveraging fixed-rate charters to support cash flow stability.

Founded in 1974 and headquartered in Athens, Greece, Costamare has cultivated a disciplined approach to fleet renewal, often overseeing newbuild supervision and shipyard coordination to ensure vessels meet performance and environmental standards.