Angeliki Frangou Purchases 1,169 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Key Points

• Angeliki Frangou bought 1,169 shares on May 4 and, across a series of trades from April 17–May 4, acquired about 12,977 shares for roughly $921,183, bringing her direct stake to 4,713,664 shares (a 0.02% ownership increase) valued at ~$338.16M.
• Navios Maritime Partners raised its quarterly dividend to $0.06 (annualized $0.24), with an ex-dividend date of May 11 and payment on May 14, implying a yield of about 0.3%.
• The company reported a strong quarter (EPS $3.40 vs. $2.41 expected; revenue $365.6M vs. $316M expected) and has drawn analyst upgrades, with an average target of $85 and Jefferies initiating coverage with a "buy" and $85 price objective.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,169 shares of the company's stock in a transaction dated Monday, May 4th. The shares were purchased at an average price of $71.74 per share, for a total transaction of $83,864.06. Following the purchase, the insider directly owned 4,713,664 shares of the company's stock, valued at approximately $338,158,255.36. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.08 per share, for a total transaction of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou acquired 1,176 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.72 per share, with a total value of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou purchased 1,145 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.08 per share, for a total transaction of $82,531.60.
• On Monday, April 27th, Angeliki Frangou bought 1,185 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.44 per share, for a total transaction of $84,656.40.
• On Friday, April 24th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.39 per share, with a total value of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.22 per share, with a total value of $83,351.14.
• On Wednesday, April 22nd, Angeliki Frangou purchased 1,214 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.58 per share, with a total value of $84,470.12.
• On Monday, April 20th, Angeliki Frangou purchased 1,190 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $70.30 per share, for a total transaction of $83,657.00.
• On Friday, April 17th, Angeliki Frangou acquired 1,201 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.39 per share, for a total transaction of $84,538.39.

Navios Maritime Partners Stock Down 0.1%

NMM stock traded down $0.07 during mid-day trading on Monday, hitting $71.20. 84,310 shares of the company were exchanged, compared to its average volume of 125,199. The firm has a fifty day simple moving average of $68.28 and a 200 day simple moving average of $58.81. The company has a market capitalization of $2.04 billion, a PE ratio of 7.41 and a beta of 1.06. Navios Maritime Partners LP has a twelve month low of $35.03 and a twelve month high of $74.21. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

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

Navios Maritime Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be issued a $0.06 dividend. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 11th. Navios Maritime Partners's dividend payout ratio is presently 2.08%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after purchasing an additional 202 shares during the period. State of Wyoming acquired a new position in shares of Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners in the 4th quarter worth $207,000. Mariner LLC bought a new stake in shares of Navios Maritime Partners in the 4th quarter worth $208,000. Finally, Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners in the second quarter valued at $212,000. Institutional investors own 62.74% of the company's stock.

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.

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