Marnell Management LLC Makes New $5.03 Million Investment in Navios Maritime Partners LP $NMM

Key Points

• Marnell Management LLC opened a new position in Navios Maritime Partners, buying 95,884 shares worth about $5.03 million. The stake makes NMM its 9th-largest holding and about 2.4% of its portfolio.
• Navios Maritime Partners reported strong quarterly results, with EPS of $3.35, easily topping estimates of $2.77, and revenue rising 17.4% year over year to $357.01 million.
• The company raised its quarterly dividend to $0.06 per share from $0.05, while insider buying also continued as CEO Angeliki Frangou purchased additional shares in June.

Marnell Management LLC acquired a new position in shares of Navios Maritime Partners LP (NYSE:NMM - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 95,884 shares of the shipping company's stock, valued at approximately $5,027,000. Navios Maritime Partners comprises 2.4% of Marnell Management LLC's investment portfolio, making the stock its 9th biggest position. Marnell Management LLC owned approximately 0.32% of Navios Maritime Partners as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Inc. lifted its stake in shares of Navios Maritime Partners by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company's stock worth $324,000 after purchasing an additional 380 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of Navios Maritime Partners by 0.8% during the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company's stock worth $4,175,000 after purchasing an additional 750 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Navios Maritime Partners by 25.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company's stock worth $290,000 after purchasing an additional 1,559 shares during the last quarter. Live Oak Investment Partners lifted its stake in shares of Navios Maritime Partners by 6.8% during the 4th quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company's stock worth $1,692,000 after purchasing an additional 2,063 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Navios Maritime Partners during the 4th quarter worth $137,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Navios Maritime Partners Trading Down 0.3%

Navios Maritime Partners stock opened at $75.05 on Monday. The stock has a 50-day moving average of $71.68 and a two-hundred day moving average of $63.67. 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 LP has a one year low of $36.62 and a one year high of $80.69. The stock has a market cap of $2.15 billion, a PE ratio of 6.32 and a beta of 1.02.

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

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a 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 2.02%.

Insider Buying and Selling

In other Navios Maritime Partners news, insider Angeliki Frangou purchased 1,155 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $73.34 per share, for a total transaction of $84,707.70. Following the completion of the purchase, the insider owned 4,744,715 shares in the company, valued at $347,977,398.10. This represents a 0.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 60,982 shares of company stock valued at $4,352,784 in the last three months.

Wall Street Analysts Forecast Growth

NMM has been the subject of a number of analyst reports. 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 cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Navios Maritime Partners has a consensus rating of "Moderate 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.

Want to see what other hedge funds are holding NMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navios Maritime Partners LP (NYSE:NMM - Free Report).

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.