Angeliki Frangou Purchases 1,106 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,106 shares on June 15 at an average price of $74.73, adding to a series of recent purchases over the prior two weeks.
• Strong recent operating results: The company reported first-quarter EPS of $3.35, well above the $2.77 consensus estimate, and revenue of $357.01 million, up 17.4% year over year.
• Stock and dividend backdrop: NMM shares slipped 0.7% to $73.87, while the company recently raised its quarterly dividend to $0.06 per share from $0.05, equivalent to a 0.3% annualized yield.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,106 shares of the firm's stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $74.73 per share, with a total value of $82,651.38. Following the completion of the purchase, the insider owned 4,746,956 shares of the company's stock, valued at $354,740,021.88. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, with a total value of $82,391.97.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou acquired 1,175 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou acquired 1,166 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.25 per share, for a total transaction of $83,665.50.

Navios Maritime Partners Stock Down 0.7%

Shares of NMM stock traded down $0.55 on Tuesday, hitting $73.87. The stock had a trading volume of 86,495 shares, compared to its average volume of 145,979. The stock's 50 day moving average is $71.87 and its 200-day moving average is $63.96. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 6.22 and a beta of 1.01. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $80.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45.

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

Navios Maritime Partners Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners during the 1st quarter valued at $63,000. State of Wyoming bought a new position in Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new position in Navios Maritime Partners during the 4th quarter valued at $207,000. Finally, Mariner LLC bought a new position in Navios Maritime Partners during the 4th quarter valued at $208,000. 62.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NMM shares. Weiss Ratings lowered shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.00.

About Navios Maritime Partners

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.