Costamare (NYSE:CMRE) Shares Down 4.2% – Here’s What Happened

Costamare Inc. (NYSE:CMRE) traded down 4.2% during mid-day trading on Wednesday . The stock traded as low as $15.17 and last traded at $15.1040. 19,933 shares traded hands during trading, a decline of 96% from the average session volume of 446,635 shares. The stock had previously closed at $15.77.

Analyst Ratings Changes

A number of brokerages have weighed in on CMRE. Fearnley Fonds raised Costamare from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Costamare in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Costamare Stock Up 3.4%

The company has a market capitalization of $1.85 billion, a PE ratio of 5.83 and a beta of 1.06. The firm’s 50-day simple moving average is $14.97 and its 200 day simple moving average is $16.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.61.

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, 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 business had revenue of $196.24 million for the quarter, compared to analysts’ expectations of $193.16 million.

Costamare Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Tuesday, July 21st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.3%. This is a boost from Costamare’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, July 21st. Costamare’s dividend payout ratio is 19.01%.

Insider Activity

In other news, CFO Grigorios Zikos sold 59,840 shares of the business’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 transaction of $917,945.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Costamare

Institutional investors and hedge funds have recently modified their holdings of the company. Independent Financial Group LLC purchased a new position in shares of Costamare in the first quarter valued at $1,615,000. Nipun Capital L.P. purchased a new position in shares of Costamare during the 2nd quarter worth approximately $2,114,000. UBS Group AG increased its stake in shares of Costamare by 75.5% during the 4th quarter. UBS Group AG now owns 212,959 shares of the shipping company’s stock worth $3,363,000 after purchasing an additional 91,584 shares in the last quarter. Globeflex Capital L P acquired a new position in shares of Costamare during the 2nd quarter worth approximately $6,651,000. Finally, Sei Investments Co. raised its position in shares of Costamare by 38.5% during the 1st quarter. Sei Investments Co. now owns 156,850 shares of the shipping company’s stock worth $2,651,000 after purchasing an additional 43,572 shares during the last quarter. Institutional investors and hedge funds 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.