Globeflex Capital L P Makes New $6.65 Million Investment in Costamare Inc. $CMRE

Key Points

• Globeflex Capital purchased 474,374 Costamare shares worth approximately $6.65 million, giving it a 0.39% stake and making Costamare its 28th-largest holding. Institutional investors and hedge funds collectively own 58.08% of the stock.
• Costamare exceeded quarterly expectations, reporting $0.62 in EPS versus the $0.57 consensus and revenue of $196.24 million versus $193.16 million expected.
• The company raised its quarterly dividend to $0.125 per share, equal to a $0.50 annualized payout and a 3.2% yield; analysts maintain a “Moderate Buy” consensus, despite the CFO selling nearly $918,000 in shares.

Globeflex Capital L P purchased a new stake in Costamare Inc. (NYSE:CMRE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 474,374 shares of the shipping company's stock, valued at approximately $6,651,000. Costamare accounts for approximately 0.8% of Globeflex Capital L P's holdings, making the stock its 28th largest holding. Globeflex Capital L P owned approximately 0.39% of Costamare as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. acquired a new stake in shares of Costamare during the 4th quarter worth approximately $29,000. Pinnacle Holdings LLC bought a new stake in Costamare during the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Costamare by 652.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,627 shares of the shipping company's stock worth $41,000 after purchasing an additional 2,278 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Costamare in the third quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC raised its holdings in Costamare by 204.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company's stock valued at $63,000 after buying an additional 4,635 shares during the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Price Performance

Costamare stock opened at $15.62 on Monday. Costamare Inc. has a 12 month low of $10.84 and a 12 month high of $18.06. The business's 50 day simple moving average is $14.98 and its 200 day simple moving average is $16.14. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 5.94 and a beta of 1.06. The company has a current ratio of 1.61, a quick ratio of 1.57 and a debt-to-equity ratio of 0.56.

Costamare (NYSE:CMRE - Get Free Report) last issued its earnings results on Monday, July 27th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $196.24 million for the quarter, compared to analysts' expectations of $193.16 million. Costamare had a net margin of 39.66% and a return on equity of 15.11%.

Costamare Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Tuesday, July 21st were given a dividend of $0.125 per share. This is a boost from Costamare's previous quarterly dividend of $0.12. This represents a $0.50 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, July 21st. Costamare's dividend payout ratio (DPR) is currently 19.01%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Fearnley Fonds raised Costamare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Weiss Ratings reissued a "hold (c+)" rating on shares of Costamare in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.00.

Insider Activity

In other news, CFO Grigorios Zikos sold 59,840 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $15.34, for a total value of $917,945.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Costamare 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.

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