Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 1,135 Shares of Stock

Key Points

• Angeliki Frangou bought 1,135 NMM shares on May 7 at $72.49 as part of a series of purchases from April 23–May 7, bringing her holdings to 4,717,056 shares worth roughly $342 million.
• Navios posted a strong quarter (EPS $3.40 vs. $2.41 est., revenue $365.6M vs. $316M est.), raised its quarterly dividend to $0.06 (annualized $0.24, yield ~0.3%), and the stock trades around $71.88 with a consensus analyst target near $85.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,135 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was bought at an average cost of $72.49 per share, with a total value of $82,276.15. Following the acquisition, the insider owned 4,717,056 shares of the company's stock, valued at approximately $341,939,389.44. The trade was a 0.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.77 per share, with a total value of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou purchased 1,171 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.55 per share, with a total value of $87,298.05.
• On Monday, May 4th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The stock was purchased at an average price 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 stock was acquired at an average cost 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 shares were bought at an average cost of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.72 per share, for a total transaction of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.08 per share, with a total value of $82,531.60.
• On Monday, April 27th, Angeliki Frangou acquired 1,185 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.44 per share, with a total value of $84,656.40.
• On Friday, April 24th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.39 per share, with a total value of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.22 per share, with a total value of $83,351.14.

Navios Maritime Partners Stock Down 2.0%

Shares of NMM stock traded down $1.48 during trading on Thursday, reaching $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 1-year low of $35.93 and a 1-year high of $77.90. The stock's 50-day moving average price is $68.61 and its 200 day moving average price is $59.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 7.48 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued 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 the consensus estimate of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. 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 earned $2.61 earnings per share.

Navios Maritime Partners Increases Dividend

The firm also recently disclosed 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 represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 11th. This is an increase from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's payout ratio is 2.08%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors have recently modified their holdings of the stock. ION Fund Management Ltd acquired a new position in shares of Navios Maritime Partners in the 4th quarter worth approximately $24,432,000. Marnell Management LLC bought a new position in Navios Maritime Partners in the 4th quarter worth about $5,027,000. ING Groep NV grew its holdings in Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company's stock worth $4,352,000 after buying an additional 53,400 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Navios Maritime Partners by 150.9% in the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock worth $4,589,000 after purchasing an additional 52,651 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Navios Maritime Partners during the 4th quarter valued at about $1,507,000. Institutional investors and hedge funds own 62.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NMM shares. 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 shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective on the stock. Finally, Weiss Ratings upgraded Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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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