Grigorios Zikos Sells 59,840 Shares of Costamare (NYSE:CMRE) Stock

Key Points

• Costamare CFO Grigorios Zikos sold 59,840 shares at an average price of $15.34, generating approximately $917,946 in proceeds.
• Costamare reported quarterly EPS of $0.62, exceeding estimates of $0.57, while revenue of $196.24 million also topped expectations. Shares rose 1.1% to $15.51.
• The company increased its quarterly dividend to $0.125 per share, implying an annualized payout of $0.50 and a 3.2% yield; analysts maintain a “Moderate Buy” consensus with a $12.00 average price target.

Costamare Inc. (NYSE:CMRE - Get Free Report) CFO Grigorios Zikos sold 59,840 shares of the firm's stock in a transaction dated Wednesday, July 29th. The stock was 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 is available at the SEC website.

Costamare Trading Up 1.1%

Shares of CMRE stock traded up $0.17 during trading hours on Thursday, reaching $15.51. 291,199 shares of the stock traded hands, compared to its average volume of 462,483. 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 firm has a market capitalization of $1.87 billion, a PE ratio of 5.90 and a beta of 1.06. Costamare Inc. has a 1-year low of $9.71 and a 1-year high of $18.06. The business has a fifty day moving average price of $15.37 and a 200 day moving average price of $16.30.

Costamare (NYSE:CMRE - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The shipping company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. Costamare had a net margin of 39.66% and a return on equity of 15.11%. The firm had revenue of $196.24 million during the quarter, compared to analyst estimates of $193.16 million.

Costamare Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Tuesday, July 21st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Costamare's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, July 21st. Costamare's payout ratio is currently 19.01%.

Institutional Trading of Costamare

A number of institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Costamare during the 1st quarter worth $192,000. Millennium Management LLC acquired a new stake in shares of Costamare in the 1st quarter valued at $6,075,000. Dynamic Technology Lab Private Ltd boosted its holdings in Costamare by 13.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 19,064 shares of the shipping company's stock worth $188,000 after purchasing an additional 2,267 shares in the last quarter. Goldman Sachs Group Inc. raised 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 valued at $4,721,000 after buying an additional 142,372 shares in the last quarter. Finally, Jane Street Group LLC raised 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 valued at $1,978,000 after buying an additional 122,737 shares in the last quarter. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMRE has been the topic of a number of research analyst reports. Fearnley Fonds raised shares of Costamare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 30th. Wall Street Zen cut shares of Costamare from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, Weiss Ratings raised Costamare from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Costamare currently has an average rating of "Moderate Buy" and an average price target of $12.00.

About Costamare

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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