Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,111 Shares

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,111 shares at $73.85 each, following several similar purchases in the prior days. After the latest trade, she directly owned 4,719,331 shares.
• Strong recent operating results: The company recently reported quarterly EPS of $3.40, beating analyst estimates of $2.41, and revenue of $365.55 million versus expectations of $316.00 million. Revenue rose 10% year over year.
• Dividend and analyst sentiment improved: Navios Maritime Partners raised its quarterly dividend to $0.06 per share from $0.05, and analysts currently have a consensus Buy rating with an average price target of $85.00.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,111 shares of Navios Maritime Partners stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $73.85 per share, with a total value of $82,047.35. Following the completion of the acquisition, the insider directly owned 4,719,331 shares in the company, valued at $348,522,594.35. This trade represents a 0.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.99 per share, with a total value of $83,062.62.
• On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.62 per share, with a total value of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.49 per share, with a total value of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.77 per share, with a total value of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou bought 1,171 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.55 per share, with a total value of $87,298.05.
• On Monday, May 4th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.74 per share, with a total value of $83,864.06.
• On Friday, May 1st, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.08 per share, with a total value of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou bought 1,176 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.03 per share, with a total value of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.72 per share, with a total value of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou bought 1,145 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.08 per share, with a total value of $82,531.60.

Navios Maritime Partners Price Performance

Shares of Navios Maritime Partners stock traded up $0.29 during mid-day trading on Tuesday, reaching $73.49. 162,309 shares of the stock were exchanged, compared to its average volume of 130,393. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The firm has a 50-day simple moving average of $68.85 and a 200 day simple moving average of $60.02. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $77.90.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.41 by $0.99. The business had revenue of $365.55 million during the quarter, compared to analysts' expectations of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.61 EPS.

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, May 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's dividend payout ratio is presently 2.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ion Asset Management Ltd. lifted its position in shares of Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock worth $30,821,000 after purchasing an additional 17,285 shares in the last quarter. ION Fund Management Ltd bought a new stake in Navios Maritime Partners during the fourth quarter worth $24,432,000. Commonwealth Equity Services LLC raised its position in Navios Maritime Partners by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company's stock worth $7,152,000 after acquiring an additional 2,045 shares in the last quarter. ING Groep NV raised its position in Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock worth $7,681,000 after acquiring an additional 49,900 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Navios Maritime Partners by 28.8% during the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company's stock worth $5,314,000 after acquiring an additional 26,340 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on NMM shares. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 price target for the company. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Finally, Weiss Ratings upgraded shares of Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "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.

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.