Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,099 Shares of Stock

Key Points

• Insider buying: Navios Maritime Partners insider Angeliki Frangou purchased 1,099 shares at an average price of $73.74, bringing her total holdings to 4.77 million shares. The filing showed a series of similar purchases in the preceding days as well.
• Stock and valuation: NMM shares fell 2.8% to $73.68 on the day, while trading above both its 50-day and 200-day moving averages. The company has a market cap of about $2.11 billion and a low PE ratio of 6.21.
• Fundamentals and outlook: Navios Maritime Partners recently beat earnings expectations with $3.35 EPS versus $2.77 expected and revenue of $357.01 million. It also raised its quarterly dividend to $0.06 per share, and analysts currently have a Moderate Buy consensus with an $85 price target.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,099 shares of Navios Maritime Partners stock in a transaction on Thursday, July 9th. The shares were acquired at an average price of $73.74 per share, for a total transaction of $81,040.26. Following the completion of the acquisition, the insider owned 4,765,449 shares in the company, valued at $351,404,209.26. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 8th, Angeliki Frangou purchased 1,108 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $76.14 per share, with a total value of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $75.12 per share, for a total transaction of $83,608.56.
• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The stock was bought at an average price of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 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 Down 2.8%

NYSE:NMM traded down $2.14 during mid-day trading on Thursday, hitting $73.68. The stock had a trading volume of 116,829 shares, compared to its average volume of 94,287. Navios Maritime Partners LP has a twelve month low of $37.66 and a twelve month high of $80.69. The stock has a 50-day simple moving average of $72.45 and a two-hundred day simple moving average of $66.25. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $2.11 billion, a PE ratio of 6.21 and a beta of 1.00.

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, topping 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 10.48%. 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 posted $1.58 EPS. The firm's revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, May 11th. 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 dividend yield of 0.3%. Navios Maritime Partners's payout ratio is presently 2.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on 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. Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price target for the company. Finally, Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Navios Maritime Partners has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Navios Maritime Partners in the 1st quarter valued at about $63,000. State of Wyoming purchased a new position in Navios Maritime Partners during the 4th quarter worth approximately $137,000. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners in the fourth quarter valued at approximately $207,000. Finally, Mariner LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 62.74% of the company's stock.

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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