Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,129 Shares

Key Points

• Insider buying continued at Navios Maritime Partners: Insider Angeliki Frangou bought 1,129 shares at an average price of $75.36, adding to a series of recent purchases over the prior two weeks.
• The company posted strong quarterly results: Navios Maritime Partners reported EPS of $3.35, topping estimates, while revenue rose 17.4% year over year to $357.01 million.
• Shares were trading near their recent highs: NMM fell 0.5% to $75.02, still above its 50-day and 200-day moving averages and not far from its 12-month high of $80.69.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,129 shares of the company's stock in a transaction that occurred on Friday, July 10th. The shares were bought at an average price of $75.36 per share, with a total value of $85,081.44. Following the transaction, the insider owned 4,766,578 shares in the company, valued at $359,209,318.08. 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 Tuesday, July 14th, Angeliki Frangou purchased 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 purchased 1,100 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $75.41 per share, with a total value of $82,951.00.
• On Thursday, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou acquired 1,108 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $76.14 per share, for a total transaction of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $75.12 per share, with a total value of $83,608.56.
• On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were acquired at an average cost 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 acquired at an average price of $73.05 per share, for a total transaction of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $69.50 per share, with a total value of $83,330.50.

Navios Maritime Partners Trading Down 0.5%

NYSE NMM traded down $0.39 during trading hours on Tuesday, hitting $75.02. 127,161 shares of the company's stock were exchanged, compared to its average volume of 87,713. The business's 50 day moving average is $72.58 and its 200-day moving average is $66.75. Navios Maritime Partners LP has a 12-month low of $38.77 and a 12-month high of $80.69. The firm has a market capitalization of $2.15 billion, a P/E ratio of 6.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly 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 company had revenue of $357.01 million during the quarter, compared to analysts' expectations of $317.80 million. During the same quarter in the previous year, the business earned $1.58 EPS. The firm's revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NMM. Jefferies Financial Group started coverage on shares of 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. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Finally, Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report 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. Based on data from MarketBeat, Navios Maritime Partners currently has an average rating of "Moderate Buy" and a consensus target price of $85.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Navios Maritime Partners by 50.9% in the fourth 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. acquired a new stake in shares of Navios Maritime Partners in the first quarter valued at about $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $137,000. Corient Private Wealth LLC purchased a new stake in shares of Navios Maritime Partners during 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 valued at about $208,000. 62.74% of the stock is owned by institutional investors and hedge funds.

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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