Angeliki Frangou Buys 1,160 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,160 shares at $73.24 each, bringing her stake to 4.73 million shares. The article notes she had also made several similar purchases in the prior days.
• Stock and financial backdrop: NMM shares rose to $75.53, near their 52-week high of $77.90, with the company valued at about $2.17 billion. The stock has also been trading above both its 50-day and 200-day moving averages.
• Business performance and outlook: Navios Maritime Partners recently beat earnings expectations with $3.40 EPS versus $2.41 expected, and revenue of $365.55 million. The company also raised its quarterly dividend to $0.06 from $0.05, while analysts currently have a consensus Buy rating and an average price target of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,160 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $73.24 per share, with a total value of $84,958.40. Following the purchase, the insider owned 4,726,267 shares in the company, valued at $346,151,795.08. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The stock was bought at an average price of $75.48 per share, with a total value of $84,009.24.
• On Monday, May 18th, Angeliki Frangou bought 1,163 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.61 per share, with a total value of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou purchased 1,134 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.69 per share, with a total value of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou bought 1,111 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.85 per share, with a total value of $82,047.35.
• On Friday, May 8th, Angeliki Frangou purchased 1,164 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.62 per share, for a total transaction of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.49 per share, for a total transaction of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.77 per share, with a total value of $81,200.22.

Navios Maritime Partners Stock Performance

Shares of NMM stock traded up $0.68 during trading hours on Wednesday, reaching $75.53. The stock had a trading volume of 138,476 shares, compared to its average volume of 135,390. The firm has a market capitalization of $2.17 billion, a PE ratio of 7.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a 50-day simple moving average of $69.21 and a 200-day simple moving average of $61.12. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve month high of $77.90.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, topping the consensus estimate of $2.41 by $0.99. The company had revenue of $365.55 million during the quarter, compared to analysts' expectations of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company posted $2.61 earnings per share.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.06 dividend. This is a positive change 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 of this dividend was Monday, May 11th. Navios Maritime Partners's payout ratio is 2.50%.

Institutional Trading of Navios Maritime Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ion Asset Management Ltd. boosted its position in Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock worth $30,821,000 after acquiring an additional 17,285 shares during the last quarter. ION Fund Management Ltd acquired a new position in Navios Maritime Partners during the 4th quarter worth approximately $24,432,000. Bank of America Corp DE boosted its position in Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after acquiring an additional 72,754 shares during the last quarter. Walleye Capital LLC boosted its position in Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after acquiring an additional 149,858 shares during the last quarter. Finally, ING Groep NV boosted its position in Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock worth $7,681,000 after acquiring an additional 49,900 shares during the last quarter. 62.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NMM shares. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 price target on the stock. Finally, Weiss Ratings upgraded shares of Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners currently has a consensus rating of "Buy" and an average target price 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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