Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $82,592.10 in Stock

Key Points

• Navios Maritime Partners insider buying accelerated as Angeliki Frangou bought 1,126 shares for about $82,592 on June 17, adding to a series of similar purchases made throughout June.
• The company posted stronger-than-expected quarterly results, reporting EPS of $3.35 versus $2.77 expected and revenue of $357.01 million, up 17.4% year over year.
• Navios Maritime Partners raised its dividend to $0.06 per share from $0.05, though the yield remains modest at about 0.3%.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,126 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were bought at an average price of $73.35 per share, for a total transaction of $82,592.10. Following the completion of the transaction, the insider owned 4,749,201 shares of the company's stock, valued at approximately $348,353,893.35. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, June 22nd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou bought 1,151 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.10 per share, for a total transaction of $81,836.10.
• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou bought 1,175 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou bought 1,162 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.66 per share, with a total value of $83,627.22.

Navios Maritime Partners Trading Up 2.0%

NYSE:NMM traded up $1.40 during mid-day trading on Monday, hitting $71.56. 74,616 shares of the stock traded hands, compared to its average volume of 109,682. 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 52 week low of $36.62 and a 52 week high of $80.69. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 6.03 and a beta of 1.02. The firm's 50 day moving average is $71.91 and its two-hundred day moving average is $64.44.

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 (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.06 dividend. The ex-dividend date was Monday, May 11th. This is a positive change 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%. Navios Maritime Partners's dividend payout ratio (DPR) is currently 2.02%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NMM. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Weiss Ratings downgraded Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a "buy" rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

A number of large investors have recently bought and sold shares of NMM. Royal Bank of Canada raised 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 worth $32,000 after acquiring an additional 202 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company's stock valued at $324,000 after acquiring an additional 380 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Navios Maritime Partners by 0.8% in the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company's stock valued at $4,175,000 after acquiring an additional 750 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Navios Maritime Partners in the first quarter worth $63,000. Finally, BNP Paribas Financial Markets grew its holdings in Navios Maritime Partners by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company's stock worth $290,000 after purchasing an additional 1,559 shares during the last quarter. 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.