Navios Maritime Partners (NYSE:NMM) Insider Acquires $83,205.72 in Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,196 shares for about $83,206, adding to a string of similar purchases over the prior two weeks.
• Quarterly results beat expectations: The shipping company reported EPS of $3.35 versus the $2.77 estimate and revenue of $357.01 million, both ahead of analyst forecasts, with revenue up 17.4% year over year.
• Dividend and stock outlook: NMM raised its quarterly dividend to $0.06 per share from $0.05, while analysts currently rate the stock a Moderate Buy with an average price target of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,196 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $69.57 per share, for a total transaction of $83,205.72. Following the acquisition, the insider directly owned 4,734,219 shares of the company's stock, valued at $329,359,615.83. This trade represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, May 28th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou purchased 1,132 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou purchased 1,118 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.24 per share, for a total transaction of $84,958.40.
• On Monday, May 18th, Angeliki Frangou purchased 1,163 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.61 per share, for a total transaction of $83,712.09.

Navios Maritime Partners Stock Down 0.6%

Shares of NMM traded down $0.43 during mid-day trading on Friday, reaching $69.23. 150,803 shares of the stock traded hands, compared to its average volume of 158,294. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 5.83 and a beta of 1.06. The stock has a fifty day simple moving average of $70.51 and a 200 day simple moving average of $62.20. Navios Maritime Partners LP has a 12-month low of $36.62 and a 12-month high of $80.69. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $317.80 million. During the same quarter last year, the firm posted $1.58 earnings per share. The business's quarterly 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. Stockholders of record on Monday, May 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend 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 dividend payout ratio is 2.02%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NMM shares. Weiss Ratings downgraded shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective for the company. Finally, Wall Street Zen raised shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors have recently bought and sold shares of the stock. ION Fund Management Ltd purchased a new stake in shares of Navios Maritime Partners in the fourth quarter worth approximately $24,432,000. Walleye Capital LLC grew its stake in shares of Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock valued at $10,090,000 after buying an additional 149,858 shares in the last quarter. Marnell Management LLC bought a new stake in shares of Navios Maritime Partners in the 4th quarter valued at approximately $5,027,000. Bank of America Corp DE grew its stake in shares of Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock valued at $13,438,000 after buying an additional 72,754 shares in the last quarter. Finally, ING Groep NV grew its stake in shares of Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company's stock valued at $4,352,000 after buying an additional 53,400 shares in the last quarter. Hedge funds and other 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.