Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 1,158 Shares of Stock

Key Points

• Navios Maritime Partners insider Angeliki Frangou kept buying shares, purchasing 1,158 shares on June 2 at $72.25 each for a total of $83,665.50. The article also notes a string of similar buys in the days leading up to that trade.
• The company beat quarterly expectations, reporting EPS of $3.35 versus the $2.77 consensus and revenue of $357.01 million versus estimates of $317.80 million. Revenue rose 17.4% year over year.
• Navios Maritime Partners also raised its dividend to $0.06 per share from $0.05, though the annualized yield remains low at about 0.3%. Meanwhile, analysts currently view the stock as a Moderate Buy with a consensus target price of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,158 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average price of $72.25 per share, with a total value of $83,665.50. Following the transaction, the insider owned 4,736,580 shares of the company's stock, valued at $342,217,905. The trade was a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.14 per share, with a total value of $83,393.84.
• On Monday, June 1st, Angeliki Frangou acquired 1,203 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.65 per share, with a total value of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.30 per share, with a total value of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $77.81 per share, with a total value of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.24 per share, with a total value of $84,958.40.

Navios Maritime Partners Price Performance

NMM stock traded down $0.45 during trading on Wednesday, hitting $71.64. 105,775 shares of the company's stock traded hands, compared to its average volume of 146,882. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The business has a fifty day simple moving average of $70.88 and a 200 day simple moving average of $62.71. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 6.03 and a beta of 1.01.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings data 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 net margin of 25.05% and a return on equity of 10.48%. The business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same quarter last year, the business earned $1.58 earnings per share. Navios Maritime Partners's quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NMM. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Jefferies Financial Group began 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. Finally, 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 analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NMM. ION Fund Management Ltd purchased a new position in Navios Maritime Partners in the 4th quarter worth about $24,432,000. Walleye Capital LLC increased its stake in Navios Maritime Partners by 45,274.3% in the 1st 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 during the period. Marnell Management LLC purchased a new position in Navios Maritime Partners in the 4th quarter worth about $5,027,000. Bank of America Corp DE increased its stake in Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after buying an additional 72,754 shares during the period. Finally, ING Groep NV increased its stake 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 during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.