Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,151 Shares

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,151 shares at $71.10 each, totaling about $81,836. She also made several other purchases in the days around that trade, signaling repeated insider accumulation.
• Strong recent earnings: The company reported quarterly EPS of $3.35, beating analyst expectations of $2.77, while revenue of $357.01 million also topped estimates and rose 17.4% year over year.
• Stock and valuation details: NMM shares were up 2.0% to $71.56, near their 50-day average and below the 12-month high of $80.69. Analysts currently have a Moderate Buy consensus with an average price target of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,151 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average price of $71.10 per share, for a total transaction of $81,836.10. Following the completion of the acquisition, the insider owned 4,750,352 shares in the company, valued at approximately $337,750,027.20. This trade represents a 0.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.39 per share, with a total value of $84,739.93.
• On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.66 per share, for a total transaction of $83,627.22.

Navios Maritime Partners Stock Up 2.0%

NYSE:NMM traded up $1.40 on Monday, reaching $71.56. The stock had a trading volume of 74,616 shares, compared to its average volume of 109,682. The company has a 50-day moving average of $71.91 and a 200 day moving average of $64.44. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.05 billion, a P/E ratio of 6.03 and a beta of 1.02. Navios Maritime Partners LP has a 12-month low of $36.62 and a 12-month high of $80.69.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same period in the previous year, the company earned $1.58 earnings per share. The company's revenue for the quarter was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's dividend payout ratio is currently 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds have recently bought and sold shares of NMM. ION Fund Management Ltd bought a new stake in Navios Maritime Partners in the fourth quarter valued at about $24,432,000. Walleye Capital LLC lifted its holdings in Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after buying an additional 149,858 shares during the last quarter. Marnell Management LLC acquired a new position in shares of Navios Maritime Partners in the 4th quarter worth approximately $5,027,000. Bank of America Corp DE increased its holdings in shares of Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock valued at $13,438,000 after acquiring an additional 72,754 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Navios Maritime Partners by 150.9% in the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock valued at $4,589,000 after acquiring an additional 52,651 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Finally, Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.

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