Renaissance Technologies LLC Cuts Stake in Costamare Inc. $CMRE

Renaissance Technologies LLC cut its stake in Costamare Inc. (NYSE:CMRE) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,011,732 shares of the shipping company’s stock after selling 53,400 shares during the period. Renaissance Technologies LLC’s holdings in Costamare were worth $17,098,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in Costamare by 2.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 473,957 shares of the shipping company’s stock worth $8,010,000 after purchasing an additional 12,381 shares during the period. Sei Investments Co. grew its stake 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 valued at $2,651,000 after buying an additional 43,572 shares during the period. First Trust Advisors LP increased its holdings in shares of Costamare by 131.6% during the 1st quarter. First Trust Advisors LP now owns 30,268 shares of the shipping company’s stock worth $512,000 after buying an additional 17,198 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Costamare by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,178,665 shares of the shipping company’s stock worth $121,315,000 after buying an additional 21,279 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Costamare by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 26,852 shares of the shipping company’s stock worth $456,000 after buying an additional 2,760 shares during the period. 58.08% of the stock is currently owned by hedge funds and other institutional investors.

Costamare Trading Up 1.1%

CMRE opened at $15.51 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.61 and a quick ratio of 1.92. Costamare Inc. has a 12-month low of $9.71 and a 12-month high of $18.06. The firm’s fifty day moving average price is $15.33 and its 200 day moving average price is $16.29. The stock has a market capitalization of $1.87 billion, a PE ratio of 5.90 and a beta of 1.06.

Costamare (NYSE:CMRE) last released 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 the consensus estimate of $193.16 million.

Costamare Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Tuesday, July 21st will be issued a $0.125 dividend. This is a boost from Costamare’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, July 21st. This represents a $0.50 annualized dividend and a dividend yield of 3.2%. Costamare’s dividend payout ratio (DPR) is presently 19.01%.

Insider Buying and Selling at Costamare

In related news, CFO Grigorios Zikos sold 59,840 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. 23.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CMRE has been the subject of a number of research reports. Wall Street Zen downgraded Costamare from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Fearnley Fonds raised Costamare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded Costamare from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Costamare presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

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.