Navios Maritime Partners (NYSE:NMM) Insider Acquires $81,754.92 in Stock

Key Points

• Insider buying continued: Angeliki Frangou purchased 1,053 Navios Maritime Partners shares for approximately $81,755, increasing her direct ownership to 4.78 million shares. The purchase was part of a series of acquisitions made in July.
• Shares rose 1.7% to $79.00 and traded near their 52-week high of $80.97. The company has a $2.26 billion market capitalization and a P/E ratio of 6.66.
• Strong quarterly results supported the stock: Navios reported $3.35 in quarterly EPS and $357.01 million in revenue, beating estimates and posting year-over-year revenue growth of 17.4%. Analysts maintain a “Moderate Buy” consensus with an average price target of $85.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,053 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was purchased at an average price of $77.64 per share, with a total value of $81,754.92. Following the completion of the purchase, the insider directly owned 4,778,836 shares in the company, valued at $371,028,827.04. The trade was a 0.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, July 24th, Angeliki Frangou bought 1,084 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $79.02 per share, for a total transaction of $85,657.68.
• On Thursday, July 23rd, Angeliki Frangou purchased 1,131 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.81 per share, for a total transaction of $84,610.11.
• On Tuesday, July 14th, Angeliki Frangou acquired 1,105 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.58 per share, for a total transaction of $83,515.90.
• On Monday, July 13th, Angeliki Frangou acquired 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 Friday, July 10th, Angeliki Frangou bought 1,129 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $75.36 per share, for a total transaction of $85,081.44.
• On Thursday, July 9th, Angeliki Frangou purchased 1,099 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.74 per share, for a total transaction of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou purchased 1,108 shares of Navios Maritime Partners stock. The shares were acquired at an average cost 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 acquired at an average price of $75.12 per share, with a total value of $83,608.56.
• On Monday, July 6th, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The stock was acquired 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 cost of $73.05 per share, with a total value of $85,687.65.

Navios Maritime Partners Trading Up 1.7%

NYSE:NMM traded up $1.29 during mid-day trading on Tuesday, hitting $79.00. 29,968 shares of the company's stock were exchanged, compared to its average volume of 145,625. Navios Maritime Partners LP has a fifty-two week low of $40.80 and a fifty-two week high of $80.97. 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 firm has a market capitalization of $2.26 billion, a P/E ratio of 6.66 and a beta of 1.00. The company has a 50 day simple moving average of $73.03 and a 200-day simple moving average of $68.21.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the previous year, the company posted $1.58 EPS. The business's revenue was up 17.4% on a year-over-year basis.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMM. Royal Bank of Canada grew its holdings in shares of 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 acquiring an additional 202 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Navios Maritime Partners by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company's stock valued at $324,000 after purchasing an additional 380 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Navios Maritime Partners during the 1st quarter worth $63,000. BNP Paribas Financial Markets grew its position in Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company's stock valued at $290,000 after buying an additional 1,559 shares during the period. Finally, State of Wyoming grew its position in Navios Maritime Partners by 77.8% during the first quarter. State of Wyoming now owns 4,637 shares of the shipping company's stock valued at $313,000 after buying an additional 2,029 shares during the period. Hedge funds and other institutional investors own 62.74% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective for the company. Weiss Ratings lowered 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

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.

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