Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,187 Shares of Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,187 shares at $71.39 each, totaling about $84,740. This adds to a series of recent purchases across multiple June trading days.
• Strong recent earnings: The company reported quarterly EPS of $3.35, beating expectations by $0.58, on revenue of $357.01 million, also above estimates. Revenue rose 17.4% year over year.
• Dividend and stock outlook: Navios recently increased its quarterly dividend to $0.06 per share, and analysts currently have a Moderate Buy consensus with a $85 target price. The stock last traded around $71.56.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,187 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $71.39 per share, for a total transaction of $84,739.93. Following the transaction, the insider directly owned 4,751,539 shares of the company's stock, valued at $339,212,369.21. The trade was a 0.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, June 18th, Angeliki Frangou bought 1,151 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The stock was acquired at an average price 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 stock was acquired at an average price of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.66 per share, for a total transaction of $83,627.22.

Navios Maritime Partners Price Performance

Shares of NYSE NMM traded up $1.40 during mid-day trading on Monday, reaching $71.56. The company had a trading volume of 74,616 shares, compared to its average volume of 109,682. 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 firm has a market cap of $2.05 billion, a price-to-earnings ratio of 6.03 and a beta of 1.02. The business's 50-day simple moving average is $71.91 and its 200 day simple moving average is $64.44.

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

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a dividend of $0.06 per share. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners's payout ratio is currently 2.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of Navios Maritime Partners by 50.9% in 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 in the last quarter. Valley Wealth Managers Inc. acquired a new position in Navios Maritime Partners during the 1st quarter worth approximately $63,000. State of Wyoming acquired a new position in Navios Maritime Partners during the 4th quarter worth approximately $137,000. Corient Private Wealth LLC bought a new position in Navios Maritime Partners in the 4th quarter valued at approximately $207,000. Finally, Mariner LLC bought a new position in Navios Maritime Partners in the 4th quarter valued at approximately $208,000. Institutional investors own 62.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 target price 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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