Angeliki Frangou Purchases 1,176 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Key Points

• Angeliki Frangou has been buying NMM stock in a series of recent purchases (e.g., 1,176 shares on April 30) and now owns 4,711,340 shares valued at about $339.4 million, a 0.02% increase in her stake.
• Navios reported strong quarterly results (EPS $3.40 vs. $2.41 expected; revenue $365.6M vs. $316M) and raised its quarterly dividend to $0.06 (annualized $0.24, yield ~0.3%).
• Analysts have turned more positive, with upgrades including Wall Street Zen to strong-buy, Jefferies initiating coverage with a buy and $85 price target, and an average analyst price target of $85.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,176 shares of the company's stock in a transaction on Thursday, April 30th. The stock was bought at an average price of $72.03 per share, for a total transaction of $84,707.28. Following the completion of the purchase, the insider owned 4,711,340 shares of the company's stock, valued at approximately $339,357,820.20. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, May 4th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.08 per share, with a total value of $82,097.40.
• On Wednesday, April 29th, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.72 per share, for a total transaction of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The stock was purchased 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 shares were acquired at an average price of $71.44 per share, with a total value of $84,656.40.
• On Friday, April 24th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $70.39 per share, for a total transaction of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.22 per share, for a total transaction of $83,351.14.
• On Wednesday, April 22nd, Angeliki Frangou bought 1,214 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.58 per share, for a total transaction 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, with a total value 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 Price Performance

Shares of NMM traded down $0.07 during midday trading on Monday, hitting $71.20. 84,310 shares of the company traded hands, compared to its average volume of 125,199. The stock has a 50-day moving average of $68.28 and a 200-day moving average of $58.81. The firm has a market cap of $2.04 billion, a P/E ratio of 7.41 and a beta of 1.06. Navios Maritime Partners LP has a one year low of $35.03 and a one year high of $74.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, beating the consensus estimate of $2.41 by $0.99. The firm had revenue of $365.55 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $2.61 EPS.

Navios Maritime Partners Increases Dividend

The firm also recently declared 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 represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, May 11th. This is an increase from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's payout ratio is 2.08%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of 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 purchasing an additional 202 shares during the last quarter. State of Wyoming purchased a new position in Navios Maritime Partners in the 4th quarter worth $137,000. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners during the fourth quarter valued at about $207,000. Mariner LLC purchased a new stake in Navios Maritime Partners during the fourth quarter valued at about $208,000. Finally, Cerity Partners LLC bought a new position in shares of Navios Maritime Partners during the second quarter valued at about $212,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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