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

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,169 shares at an average price of $71.61, worth about $83,712. This was one of several recent purchases she made over the prior days.
• Stock and financial update: NMM traded up to $71.37 on Friday and has ranged from $36.62 to $77.90 over the past 52 weeks. The company reported strong quarterly results, with EPS of $3.40 beating estimates and revenue rising 10% year over year.
• Dividend and analyst sentiment: Navios Maritime Partners recently raised its quarterly dividend to $0.06 per share, or $0.24 annualized, though the yield remains low at 0.3%. Analysts currently have a consensus Buy rating with an average price target of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,169 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $71.61 per share, with a total value of $83,712.09. Following the completion of the purchase, the insider owned 4,722,772 shares of the company's stock, valued at approximately $338,197,702.92. This represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.93 per share, for a total transaction of $83,129.96.
• On Wednesday, May 13th, Angeliki Frangou bought 1,134 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.69 per share, for a total transaction of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The stock was 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 shares were purchased at an average cost of $73.85 per share, for a total transaction of $82,047.35.
• On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.62 per share, for a total transaction of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.49 per share, with a total value of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou purchased 1,086 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.77 per share, with a total value of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou bought 1,171 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.55 per share, with a total value of $87,298.05.
• On Monday, May 4th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.74 per share, with a total value of $83,864.06.
• On Friday, May 1st, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.08 per share, with a total value of $82,097.40.

Navios Maritime Partners Stock Performance

NMM stock traded up $0.31 during midday trading on Friday, reaching $71.37. 55,035 shares of the company's stock traded hands, compared to its average volume of 136,610. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $77.90. The firm has a market capitalization of $2.05 billion, a PE ratio of 7.43 and a beta of 1.06. The company has a 50-day moving average price of $68.82 and a two-hundred day moving average price of $60.45.

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

Navios Maritime Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. The ex-dividend date was Monday, May 11th. Navios Maritime Partners's dividend payout ratio (DPR) is 2.50%.

Institutional Trading of Navios Maritime Partners

A number of institutional investors have recently modified their holdings of NMM. JPMorgan Chase & Co. increased its holdings in Navios Maritime Partners by 64.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company's stock valued at $672,000 after purchasing an additional 7,006 shares during the period. Jump Financial LLC bought a new stake in shares of Navios Maritime Partners in the 2nd quarter worth approximately $580,000. Cerity Partners LLC purchased a new position in shares of Navios Maritime Partners during the second quarter valued at approximately $212,000. BNP Paribas Financial Markets raised its holdings in shares of Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company's stock valued at $290,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Ion Asset Management Ltd. raised its holdings in shares of Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock valued at $30,821,000 after acquiring an additional 17,285 shares in the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NMM has been the topic of several research reports. Jefferies Financial Group assumed 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 objective on the stock. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Finally, Weiss Ratings raised Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating, According to 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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