Angeliki Frangou Acquires 1,166 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,166 shares at an average price of $71.77, adding to a string of recent purchases over the prior week. After the transaction, she held about 4.74 million shares.
• Strong quarterly results: The shipping company reported quarterly EPS of $3.35, beating estimates of $2.77, on revenue of $357.01 million versus expectations of $317.80 million. Revenue rose 17.4% year over year.
• Dividend and valuation updates: Navios recently raised its quarterly dividend to $0.06 per share from $0.05, though the yield remains low at 0.3%. Shares were down slightly in trading and analysts currently have a consensus Moderate Buy rating with an average price target of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,166 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $71.77 per share, for a total transaction of $83,683.82. Following the acquisition, the insider directly owned 4,738,902 shares of the company's stock, valued at $340,110,996.54. This trade represents a 0.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Angeliki Frangou also recently made the following trade(s):

• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.66 per share, for a total transaction of $83,627.22.
• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou acquired 1,158 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.25 per share, for a total transaction of $83,665.50.
• On Monday, June 1st, Angeliki Frangou acquired 1,203 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.30 per share, for a total transaction of $82,918.80.

Navios Maritime Partners Stock Down 0.8%

Shares of NMM traded down $0.56 during mid-day trading on Monday, reaching $71.13. 76,544 shares of the stock traded hands, compared to its average volume of 140,596. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 5.99 and a beta of 1.02. The stock has a fifty day simple moving average of $71.13 and a 200 day simple moving average of $63.10. Navios Maritime Partners LP has a 12-month low of $36.62 and a 12-month high of $80.69. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.58. The company had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The business's quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.06 per share. This is an increase from Navios Maritime Partners's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. Navios Maritime Partners's payout ratio is 2.02%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Navios Maritime Partners by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company's stock worth $1,572,000 after buying an additional 17,040 shares during the last quarter. Arbiter Partners Capital Management LLC bought a new position in shares of Navios Maritime Partners in the 3rd quarter worth about $1,117,000. ING Groep NV lifted its position in shares of Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company's stock worth $4,352,000 after buying an additional 53,400 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Navios Maritime Partners during the fourth quarter valued at $368,000. Finally, Empowered Funds LLC acquired a new position in shares of Navios Maritime Partners during the fourth quarter valued at $329,000. 62.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NMM has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Weiss Ratings downgraded shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. NYSE: NMM is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.

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