Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,116 Shares of Stock

Key Points

• Insider buying accelerated: Navios Maritime Partners CEO Angeliki Frangou bought 1,116 shares on May 22 at $74.30 each, and she has made repeated purchases throughout May, steadily adding to her stake.
• Strong quarterly results: The shipping company reported Q1 earnings of $3.35 per share, topping estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
• Dividend and analyst backdrop: Navios raised its quarterly dividend to $0.06 per share from $0.05, and analysts currently rate the stock a consensus Buy with an average target price of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,116 shares of the business's stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $74.30 per share, for a total transaction of $82,918.80. Following the transaction, the insider directly owned 4,729,603 shares of the company's stock, valued at approximately $351,409,502.90. The trade was a 0.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, May 26th, Angeliki Frangou purchased 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.24 per share, for a total transaction of $84,958.40.
• On Monday, May 18th, Angeliki Frangou purchased 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.61 per share, for a total transaction of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou purchased 1,134 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.69 per share, for a total transaction of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou purchased 1,111 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.85 per share, for a total transaction of $82,047.35.

Navios Maritime Partners Stock Down 1.4%

Shares of NYSE NMM traded down $1.04 during trading on Tuesday, hitting $73.48. 113,843 shares of the company traded hands, compared to its average volume of 153,271. The business's fifty day moving average is $70.21 and its 200 day moving average is $61.84. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 6.19 and a beta of 1.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 10.62%. The firm had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the prior year, the business earned $1.58 earnings per share. The business's quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

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

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently made changes to their positions in NMM. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners in the 4th quarter worth about $24,432,000. Walleye Capital LLC raised its holdings in shares of 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 acquiring an additional 149,858 shares during the last quarter. Marnell Management LLC acquired a new stake in shares of Navios Maritime Partners in the 4th quarter worth about $5,027,000. Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 72,754 shares during the last quarter. Finally, ING Groep NV raised its holdings in shares of 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 acquiring an additional 53,400 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NMM. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a "buy" rating and a $85.00 price objective on the stock. Weiss Ratings upgraded shares of Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, March 17th. Finally, 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. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $85.00.

Navios Maritime Partners Company Profile

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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