Costamare Inc. $CMRE Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in Costamare Inc. (NYSE:CMRE) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,011,732 shares of the shipping company’s stock after selling 53,400 shares during the period. Renaissance Technologies LLC owned about 0.84% of Costamare worth $17,098,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMRE. Unison Advisors LLC raised its holdings in Costamare by 1.7% in the first quarter. Unison Advisors LLC now owns 46,255 shares of the shipping company’s stock valued at $782,000 after acquiring an additional 755 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Costamare by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 15,393 shares of the shipping company’s stock valued at $140,000 after acquiring an additional 1,148 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Costamare by 3.0% in the 4th quarter. State of Wisconsin Investment Board now owns 46,069 shares of the shipping company’s stock valued at $727,000 after purchasing an additional 1,331 shares during the period. Ieq Capital LLC boosted its holdings in shares of Costamare by 2.2% in the fourth quarter. Ieq Capital LLC now owns 72,722 shares of the shipping company’s stock valued at $1,148,000 after acquiring an additional 1,575 shares during the period. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Costamare in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 58.08% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Grigorios Zikos sold 59,840 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 23.20% of the company’s stock.

Analysts Set New Price Targets

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

Costamare Stock Performance

Shares of CMRE stock opened at $15.51 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.92 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $15.33 and a 200-day simple moving average of $16.29. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 5.90 and a beta of 1.06. Costamare Inc. has a 12-month low of $9.71 and a 12-month high of $18.06.

Costamare (NYSE:CMRE) last posted its quarterly earnings results on Monday, July 27th. The shipping company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $196.24 million for 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Tuesday, July 21st will be issued 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 yield of 3.2%. The ex-dividend date of this dividend is Tuesday, July 21st. Costamare’s payout ratio is presently 19.01%.

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.