Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 1,086 Shares of Stock

Key Points

• Angeliki Frangou made a series of insider purchases in late April–early May (including a May 6 buy of 1,086 shares at $74.77), totaling about 12,764 shares, and now owns 4,715,921 shares valued at roughly $352.6 million.
• Navios reported a strong quarter, with EPS $3.40 beating $2.41 estimates and revenue of $365.6M (up 10% YoY), and posted a net margin of 21.23%.
• The company raised its quarterly dividend from $0.05 to $0.06 (annualized $0.24), implying a yield of about 0.3%.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,086 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $74.77 per share, for a total transaction of $81,200.22. Following the acquisition, the insider owned 4,715,921 shares in the company, valued at approximately $352,609,413.17. The trade was a 0.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.49 per share, for a total transaction of $82,276.15.
• On Tuesday, May 5th, Angeliki Frangou bought 1,171 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.74 per share, with a total value of $83,864.06.
• On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.08 per share, with a total value of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou acquired 1,176 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.72 per share, with a total value of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou bought 1,145 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.08 per share, with a total value of $82,531.60.
• On Monday, April 27th, Angeliki Frangou purchased 1,185 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.44 per share, for a total transaction of $84,656.40.
• On Friday, April 24th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.39 per share, for a total transaction of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $70.22 per share, with a total value of $83,351.14.

Navios Maritime Partners Stock Performance

NMM traded down $1.48 during trading hours on Thursday, hitting $71.88. The company's stock had a trading volume of 125,370 shares, compared to its average volume of 131,988. Navios Maritime Partners LP has a fifty-two week low of $35.93 and a fifty-two week high of $77.90. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $2.06 billion, a PE ratio of 7.48 and a beta of 1.06. The company has a 50-day simple moving average of $68.61 and a 200 day simple moving average of $59.42.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.99. The company had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.61 EPS.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be given a dividend of $0.06 per share. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. The ex-dividend date is 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 presently 2.08%.

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMM. Royal Bank of Canada lifted 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 during the last quarter. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners in the 1st quarter worth approximately $63,000. State of Wyoming acquired a new position in Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $207,000. Finally, Mariner LLC acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at $208,000. Institutional investors own 62.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NMM. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 price target for the company. Finally, Weiss Ratings raised Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "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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