Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 1,149 Shares

Key Points

• Insider buying: Angeliki Frangou purchased 1,149 Navios Maritime Partners shares at an average of $74.03, investing $85,060.47. She subsequently held 4,774,447 shares, and the article lists several additional purchases during July.
• Strong financial results: Navios reported quarterly EPS of $3.35, exceeding estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
• Stock and analyst outlook: NMM shares traded at $79.00, near their 52-week high of $80.97. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $85, although Weiss Ratings downgraded the stock to “Hold.”

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,149 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The shares were bought at an average price of $74.03 per share, with a total value of $85,060.47. Following the transaction, the insider owned 4,774,447 shares in the company, valued at $353,452,311.41. This represents a 0.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, July 22nd, Angeliki Frangou bought 1,121 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.07 per share, for a total transaction of $83,032.47.
• On Monday, July 20th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.95 per share, for a total transaction of $85,132.65.
• On Monday, July 27th, Angeliki Frangou purchased 1,053 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $77.64 per share, with a total value of $81,754.92.
• On Friday, July 24th, Angeliki Frangou purchased 1,084 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $79.02 per share, with a total value of $85,657.68.
• On Thursday, July 23rd, Angeliki Frangou acquired 1,131 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.81 per share, with a total value of $84,610.11.
• On Tuesday, July 14th, Angeliki Frangou acquired 1,105 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.58 per share, for a total transaction of $83,515.90.
• On Monday, July 13th, Angeliki Frangou bought 1,100 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $75.41 per share, for a total transaction of $82,951.00.
• On Friday, July 10th, Angeliki Frangou purchased 1,129 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $75.36 per share, with a total value of $85,081.44.
• On Thursday, July 9th, Angeliki Frangou purchased 1,099 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.74 per share, for a total transaction of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou acquired 1,108 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $76.14 per share, for a total transaction of $84,363.12.

Navios Maritime Partners Trading Up 1.7%

Shares of NMM stock traded up $1.29 during mid-day trading on Tuesday, hitting $79.00. 30,795 shares of the company's stock were exchanged, compared to its average volume of 145,625. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 6.66 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners LP has a fifty-two week low of $40.80 and a fifty-two week high of $80.97. The stock has a 50-day simple moving average of $73.03 and a two-hundred day simple moving average of $68.21.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on NMM shares. 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. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 target price for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock valued at $32,000 after acquiring an additional 202 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Navios Maritime Partners in the 1st quarter worth about $63,000. State of Wyoming acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at about $137,000. Corient Private Wealth LLC acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at about $207,000. Finally, Mariner LLC purchased a new stake in shares of Navios Maritime Partners during the 4th quarter worth about $208,000. Institutional investors and hedge funds 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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