Navios Maritime Partners (NYSE:NMM) Hits New 1-Year High After Insider Buying Activity

Key Points

• Stock hit a 52-week high — Navios Maritime Partners climbed as high as $74.99 after insider Angeliki Frangou bought a total of 3,500 shares across transactions from April 30–May 4, increasing her stake to about 4.71 million shares (roughly a 0.02% rise).
• Positive analyst outlook — The stock has a consensus Buy rating with a $85.00 average price target following upgrades and new coverage from firms including Wall Street Zen and Jefferies.
• Solid recent fundamentals and shareholder returns — the company reported EPS of $3.40 (beating $2.41 est.) and $365.6M revenue, lifted its quarterly dividend to $0.06 ($0.24 annual), and trades at a market cap of about $2.14B with a P/E of 7.77.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $74.99 and last traded at $74.0950, with a volume of 89134 shares trading hands. The stock had previously closed at $71.18.

Specifically, insider Angeliki Frangou acquired 1,169 shares of the business's stock in a transaction on Monday, May 4th. The stock was bought at an average price of $71.74 per share, for a total transaction of $83,864.06. Following the transaction, the insider owned 4,713,664 shares in the company, valued at $338,158,255.36. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock in a transaction dated Friday, May 1st. The shares were purchased at an average cost of $71.08 per share, with a total value of $82,097.40. Following the acquisition, the insider owned 4,712,495 shares of the company's stock, valued at approximately $334,964,144.60. This trade represents a 0.02% increase in their position. The SEC filing for this purchase provides additional information. In other Navios Maritime Partners news, insider Angeliki Frangou acquired 1,176 shares of Navios Maritime Partners stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $72.03 per share, with a total value of $84,707.28. Following the completion of the transaction, the insider owned 4,711,340 shares of the company's stock, valued at $339,357,820.20. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NMM shares. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Jefferies Financial Group started coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 price target on the stock. Finally, Weiss Ratings raised Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners currently has an average rating of "Buy" and a consensus price target of $85.00.

Navios Maritime Partners Trading Up 5.0%

The business has a fifty day simple moving average of $68.28 and a 200 day simple moving average of $58.81. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 7.77 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 released its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.41 by $0.99. The firm had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.61 EPS.

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, May 11th. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's dividend payout ratio is currently 2.08%.

Institutional Trading of Navios Maritime Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after buying an additional 202 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Navios Maritime Partners by 5.6% during the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company's stock worth $324,000 after acquiring an additional 380 shares during the period. Moors & Cabot Inc. grew its position in Navios Maritime Partners by 0.8% during the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company's stock worth $4,175,000 after buying an additional 750 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Navios Maritime Partners by 25.4% in the 2nd 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 in the last quarter. Finally, Live Oak Investment Partners raised its position in Navios Maritime Partners by 5.9% during the 3rd quarter. Live Oak Investment Partners now owns 30,217 shares of the shipping company's stock valued at $1,361,000 after purchasing an additional 1,680 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors.

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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