Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,119 Shares

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,119 shares at an average price of $73.63, bringing her total holdings to about 4.75 million shares. This was part of a string of recent purchases over multiple days.
• Strong quarterly results: The company reported quarterly EPS of $3.35, beating estimates by $0.58, on revenue of $357.01 million, which also topped expectations. Revenue rose 17.4% year over year.
• Dividend and analyst backdrop: Navios Maritime Partners raised its quarterly dividend to $0.06 from $0.05, though the yield remains modest at 0.3%. Wall Street currently has a Moderate Buy consensus with a $85 price target.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock in a transaction on Tuesday, June 16th. The shares were purchased at an average cost of $73.63 per share, with a total value of $82,391.97. Following the transaction, the insider owned 4,748,075 shares in the company, valued at approximately $349,600,762.25. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 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 purchased 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou acquired 1,166 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou acquired 1,158 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.25 per share, with a total value of $83,665.50.

Navios Maritime Partners Stock Down 0.7%

Shares of NYSE NMM traded down $0.55 during trading hours on Tuesday, hitting $73.87. The company had a trading volume of 86,495 shares, compared to its average volume of 145,979. The stock has a market capitalization of $2.12 billion, a P/E ratio of 6.22 and a beta of 1.01. 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 1-year low of $36.62 and a 1-year high of $80.69. The firm's 50 day moving average is $71.87 and its 200-day moving average is $63.96.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's payout ratio is currently 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in Navios Maritime Partners during the 1st quarter valued at $63,000. State of Wyoming acquired a new stake in Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC acquired a new stake in Navios Maritime Partners during the 4th quarter valued at $207,000. Finally, Mariner LLC acquired a new stake in Navios Maritime Partners during the 4th quarter valued at $208,000. Institutional investors and hedge funds own 62.74% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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