Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires 653 Shares

Key Points

• Insider buying continued: Angeliki Frangou acquired 653 Navios Maritime Partners shares at an average price of $79.91, bringing her holdings to 4,783,510 shares. She has also made multiple additional purchases in recent weeks.
• Strong quarterly performance: Navios reported quarterly EPS of $3.35, exceeding estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
• Shares remain near their 52-week high: NMM traded at $78.45, compared with a 52-week range of $42.77 to $82.84. Analysts’ consensus rating is “Moderate Buy,” with an $85 price target, and the company declared a $0.06 quarterly dividend.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 653 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average price of $79.91 per share, for a total transaction of $52,181.23. Following the purchase, the insider owned 4,783,510 shares of the company's stock, valued at $382,250,284.10. The trade was a 0.01% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, August 4th, Angeliki Frangou bought 1,041 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $78.94 per share, with a total value of $82,176.54.
• On Friday, July 31st, Angeliki Frangou bought 830 shares of Navios Maritime Partners stock. The stock was purchased at an average cost 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, for a total transaction 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 price of $78.55 per share, with a total value of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou acquired 1,072 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou acquired 1,121 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.07 per share, for a total transaction of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.03 per share, with a total value of $85,060.47.
• On Monday, July 20th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.95 per share, with a total value of $85,132.65.
• On Monday, July 27th, Angeliki Frangou purchased 1,053 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $77.64 per share, for a total transaction of $81,754.92.
• On Friday, July 24th, Angeliki Frangou bought 1,084 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $79.02 per share, for a total transaction of $85,657.68.

Navios Maritime Partners Stock Performance

NMM stock traded down $2.66 during midday trading on Tuesday, reaching $78.45. 133,606 shares of the company's stock traded hands, compared to its average volume of 112,944. The firm has a market capitalization of $2.25 billion, a PE ratio of 6.61 and a beta of 1.02. The company has a 50-day moving average price of $73.62 and a two-hundred day moving average price of $69.20. Navios Maritime Partners LP has a 52 week low of $42.77 and a 52 week 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.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.58. The firm 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 business's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share.

Navios Maritime Partners Announces Dividend

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

Analyst Upgrades and Downgrades

NMM has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 price target on the stock. Weiss Ratings lowered shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of NMM. ION Fund Management Ltd purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at about $24,432,000. Walleye Capital LLC boosted its stake in Navios Maritime Partners by 45,274.3% in the first 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 in the last quarter. Marnell Management LLC purchased a new stake in Navios Maritime Partners in the fourth quarter worth approximately $5,027,000. Bank of America Corp DE grew 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 acquiring an additional 72,754 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Navios Maritime Partners by 150.9% during the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock worth $4,589,000 after acquiring an additional 52,651 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company's stock.

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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