Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,062 Shares of Stock

Key Points

• Insider buying: Angeliki Frangou purchased 1,062 Navios Maritime Partners shares at an average price of $79.16, bringing her holdings to 4,790,901 shares. The purchase continues a series of insider buys over multiple trading sessions.
• Strong operating results: Navios reported quarterly earnings of $3.35 per share, exceeding estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
• Stock and outlook: NMM traded near $79.78, close to its 12-month high of $82.84. Analysts hold a “Moderate Buy” consensus rating with an average price target of $85, while the company pays a quarterly dividend of $0.06 per share.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,062 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $79.16 per share, with a total value of $84,067.92. Following the transaction, the insider owned 4,790,901 shares in the company, valued at $379,247,723.16. The trade was a 0.02% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, August 11th, Angeliki Frangou purchased 1,057 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $78.40 per share, with a total value of $82,868.80.
• On Monday, August 10th, Angeliki Frangou purchased 1,050 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $79.09 per share, for a total transaction of $83,044.50.
• On Friday, August 7th, Angeliki Frangou purchased 1,054 shares of Navios Maritime Partners stock. The shares were bought at an average price of $78.94 per share, for a total transaction of $83,202.76.
• On Thursday, August 6th, Angeliki Frangou purchased 1,063 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $79.53 per share, with a total value of $84,540.39.
• On Wednesday, August 5th, Angeliki Frangou acquired 1,064 shares of Navios Maritime Partners stock. The stock was bought at an average price of $78.41 per share, with a total value of $83,428.24.
• On Tuesday, August 4th, Angeliki Frangou acquired 1,041 shares of Navios Maritime Partners stock. The stock was bought at an average price of $78.94 per share, with a total value of $82,176.54.
• On Monday, August 3rd, Angeliki Frangou bought 653 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $79.91 per share, for a total transaction of $52,181.23.
• On Friday, July 31st, Angeliki Frangou bought 830 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $80.00 per share, with a total value of $66,400.00.
• On Thursday, July 30th, Angeliki Frangou purchased 1,068 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $78.37 per share, with a total value of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou purchased 1,051 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $78.55 per share, with a total value of $82,556.05.

Navios Maritime Partners Price Performance

Shares of NMM stock traded up $1.37 during mid-day trading on Wednesday, hitting $79.78. 57,119 shares of the stock traded hands, compared to its average volume of 109,627. Navios Maritime Partners LP has a twelve month low of $42.77 and a twelve month high of $82.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The company's 50-day simple moving average is $74.56 and its 200-day simple moving average is $70.15. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 6.72 and a beta of 1.02.

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

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners's dividend payout ratio is currently 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ion Asset Management Ltd. lifted its holdings in shares of Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock valued at $30,821,000 after purchasing an additional 17,285 shares in the last quarter. ION Fund Management Ltd purchased a new position in shares of Navios Maritime Partners during the fourth quarter valued at $24,432,000. Bank of America Corp DE raised its position in Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock valued at $13,438,000 after buying an additional 72,754 shares during the period. Walleye Capital LLC lifted its stake in Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after acquiring an additional 149,858 shares in the last quarter. Finally, ING Groep NV boosted its position in Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock worth $7,681,000 after acquiring an additional 49,900 shares during the period. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NMM shares. Weiss Ratings downgraded Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research report on Friday, April 24th. They issued a "buy" rating and a $85.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Navios Maritime Partners currently has an average rating of "Moderate Buy" and an average target price 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source