Nipun Capital L.P. Makes New $2.11 Million Investment in Costamare Inc. $CMRE

Key Points

• Nipun Capital acquired 150,800 Costamare shares worth approximately $2.11 million, giving it a 0.13% stake and making CMRE its seventh-largest holding. Institutional investors collectively own 58.08% of the company.
• Costamare reported quarterly EPS of $0.62 and revenue of $196.24 million, exceeding analyst estimates. The company also raised its quarterly dividend to $0.125 per share, implying a 3.4% annualized yield.
• Analyst sentiment remains favorable but mixed, with one Strong Buy and three Hold ratings producing a “Moderate Buy” consensus and a $12.00 target price. Shares opened at $14.63, down 1.9%, while the CFO recently sold nearly $918,000 in stock.

Nipun Capital L.P. acquired a new stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,800 shares of the shipping company's stock, valued at approximately $2,114,000. Costamare accounts for 1.0% of Nipun Capital L.P.'s investment portfolio, making the stock its 7th largest holding. Nipun Capital L.P. owned 0.13% of Costamare as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. ST Germain D J Co. Inc. bought a new position in shares of Costamare during the 4th quarter valued at approximately $29,000. Pinnacle Holdings LLC purchased a new stake in Costamare during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd lifted its position in Costamare by 652.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,627 shares of the shipping company's stock worth $41,000 after buying an additional 2,278 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Costamare by 204.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,897 shares of the shipping company's stock worth $63,000 after buying an additional 4,635 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in Costamare in the third quarter worth $66,000. 58.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CMRE. Weiss Ratings upgraded shares of Costamare from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. Wall Street Zen lowered shares of Costamare from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, Fearnley Fonds raised shares of Costamare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Costamare presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Costamare Trading Down 1.9%

Shares of NYSE CMRE opened at $14.63 on Friday. Costamare Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $18.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.61. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 5.56 and a beta of 1.06. The business's 50 day moving average price is $15.21 and its 200-day moving average price is $16.24.

Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $196.24 million during the quarter, compared to analysts' expectations of $193.16 million. Costamare had a return on equity of 15.11% and a net margin of 39.66%.

Costamare Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Tuesday, July 21st were paid a dividend of $0.125 per share. This is an increase from Costamare's previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, July 21st. Costamare's payout ratio is presently 19.01%.

Insider Activity

In other news, CFO Grigorios Zikos sold 59,840 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $15.34, for a total transaction of $917,945.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.20% of the company's stock.

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.

Want to see what other hedge funds are holding CMRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costamare Inc. (NYSE:CMRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source