Viewing insider transactions for Costamare Inc.'s (NYSE:CMRE ) over the last year, we see that insiders were net buyers. This means that a larger number of shares were purchased by insiders in relation to shares sold.
Although we don't think shareholders should simply follow insider transactions, we would consider it foolish to ignore insider transactions altogether.
Costamare Insider Transactions Over The Last Year
The Chairman & CEO Konstantinos Konstantakopoulos made the biggest insider purchase in the last 12 months. That single transaction was for US$11m worth of shares at a price of US$11.58 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$9.19). While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. It is encouraging to see an insider paid above the current price for shares, as it suggests they saw value, even at higher levels. Konstantinos Konstantakopoulos was the only individual insider to buy shares in the last twelve months. We note that Konstantinos Konstantakopoulos was both the biggest buyer and the biggest seller.
Konstantinos Konstantakopoulos bought a total of 1.75m shares over the year at an average price of US$10.15. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Costamare is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Does Costamare Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Costamare insiders own 64% of the company, currently worth about US$711m based on the recent share price. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
So What Do The Costamare Insider Transactions Indicate?
The fact that there have been no Costamare insider transactions recently certainly doesn't bother us. On a brighter note, the transactions over the last year are encouraging. Judging from their transactions, and high insider ownership, Costamare insiders feel good about the company's future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Costamare. To that end, you should learn about the 4 warning signs we've spotted with Costamare (including 1 which is concerning).
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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