Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,167 Shares

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,167 shares on June 5 at an average price of $71.66, adding to a string of recent purchases over the prior days.
• Strong quarterly results: The company reported Q1 EPS of $3.35, beating estimates of $2.77, and revenue of $357.01 million, also above expectations. Revenue rose 17.4% year over year.
• Dividend and valuation details: Navios Maritime Partners raised its quarterly dividend to $0.06 per share from $0.05, while the stock traded around $71.13 with a market cap of about $2.04 billion and a moderate-buy analyst rating.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $71.66 per share, with a total value of $83,627.22. Following the completion of the transaction, the insider owned 4,740,069 shares of the company's stock, valued at $339,673,344.54. This represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.02 per share, with a total value of $82,525.24.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.25 per share, with a total value of $83,665.50.
• On Monday, June 1st, Angeliki Frangou purchased 1,203 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.65 per share, with a total value of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou purchased 1,132 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.30 per share, with a total value of $82,918.80.

Navios Maritime Partners Price Performance

NYSE:NMM traded down $0.56 during trading hours on Monday, hitting $71.13. 76,544 shares of the company's stock traded hands, compared to its average volume of 140,596. The firm has a market cap of $2.04 billion, a P/E ratio of 5.99 and a beta of 1.02. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69. The business's fifty day simple moving average is $71.13 and its two-hundred day simple moving average is $63.10. 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 (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 the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The firm also recently disclosed 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. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners's dividend payout ratio is 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company's stock valued at $736,000 after acquiring an additional 4,644 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Navios Maritime Partners in the 1st quarter valued at about $1,889,000. Walleye Capital LLC lifted 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 acquiring an additional 149,858 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Navios Maritime Partners by 77.8% in the 1st quarter. State of Wyoming now owns 4,637 shares of the shipping company's stock valued at $313,000 after acquiring an additional 2,029 shares during the last quarter. Institutional investors own 62.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NMM. Jefferies Financial Group began coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set 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 research note on Saturday, March 21st. Finally, Weiss Ratings lowered Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note 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 company. According to MarketBeat.com, Navios Maritime Partners has an average rating of "Moderate Buy" and an average price target 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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