Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,108 Shares

Key Points

• Insider Angeliki Frangou kept buying shares of Navios Maritime Partners, purchasing 1,108 shares on July 8 at $76.14 each for $84,363.12. The filing also shows a recent string of similar purchases across late June and early July.
• The company reported stronger-than-expected quarterly results, posting EPS of $3.35 versus the $2.77 estimate and revenue of $357.01 million versus expectations of $317.80 million. Revenue also rose 17.4% from the same quarter a year ago.
• Navios Maritime Partners raised its quarterly dividend to $0.06 per share from $0.05, equal to an annualized payout of $0.24 and a yield of 0.3%. Wall Street currently has a “Moderate Buy” consensus rating with an average price target of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,108 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was acquired at an average cost of $76.14 per share, for a total transaction of $84,363.12. Following the completion of the transaction, the insider owned 4,764,350 shares in the company, valued at $362,757,609. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, July 9th, Angeliki Frangou purchased 1,099 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.74 per share, for a total transaction of $81,040.26.
• On Tuesday, July 7th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.12 per share, with a total value of $83,608.56.
• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou acquired 1,173 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.05 per share, for a total transaction of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $69.50 per share, with a total value of $83,330.50.
• On Monday, June 29th, Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.94 per share, for a total transaction of $82,587.12.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock traded down $2.14 during mid-day trading on Thursday, reaching $73.68. The company's stock had a trading volume of 116,829 shares, compared to its average volume of 94,287. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners LP has a twelve month low of $37.66 and a twelve month high of $80.69. The business has a 50 day moving average price of $72.45 and a 200-day moving average price of $66.25. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 6.21 and a beta of 1.00.

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

Navios Maritime Partners Increases Dividend

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

Institutional Trading of Navios Maritime Partners

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position 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 period. Valley Wealth Managers Inc. purchased a new position in Navios Maritime Partners during the first quarter valued at approximately $63,000. State of Wyoming acquired a new stake in Navios Maritime Partners during the fourth quarter valued at $137,000. Corient Private Wealth LLC purchased a new position in Navios Maritime Partners in the fourth quarter valued at about $207,000. Finally, Mariner LLC purchased a new position in Navios Maritime Partners in the fourth quarter valued at about $208,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NMM has been the subject of several recent research reports. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report 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 objective for the company. Finally, Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate 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.

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.