Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,118 Shares

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,118 shares at $73.63 each, bringing her total holdings to 4.73 million shares. This follows a string of similar purchases made over the prior two weeks.
• Strong quarterly results: The company reported Q1 EPS of $3.35, beating estimates of $2.77, on revenue of $357.01 million versus expectations of $317.80 million. Revenue rose 17.4% year over year.
• Dividend and stock movement: Navios Maritime Partners raised its quarterly dividend to $0.06 per share from $0.05, though the yield remains modest at 0.3%. Shares were down 1.4% on the day to $73.48, near the top of their 52-week range.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,118 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $73.63 per share, for a total transaction of $82,318.34. Following the purchase, the insider owned 4,730,721 shares in the company, valued at approximately $348,322,987.23. The trade was a 0.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, May 22nd, Angeliki Frangou bought 1,116 shares of Navios Maritime Partners stock. The shares were 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 shares were purchased at an average cost 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 shares were acquired at an average cost of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou bought 1,160 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou purchased 1,163 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.61 per share, with a total value of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou bought 1,134 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.69 per share, for a total transaction of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou bought 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou bought 1,111 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.85 per share, for a total transaction of $82,047.35.

Navios Maritime Partners Trading Down 1.4%

NYSE NMM traded down $1.04 during trading on Tuesday, hitting $73.48. The stock had a trading volume of 113,843 shares, compared to its average volume of 153,271. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 6.19 and a beta of 1.06. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $80.69. The stock has a 50 day simple moving average of $70.21 and a 200 day simple moving average of $61.84.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.62%. The business's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous 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. Shareholders of record on Monday, May 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. 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. Navios Maritime Partners's payout ratio is 2.02%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, March 17th. Jefferies Financial Group assumed 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 objective for the company. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $85.00.

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 boosted its stake in shares of Navios Maritime Partners by 50.9% during the fourth 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 in the last quarter. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners in the 1st quarter valued at $63,000. State of Wyoming purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at about $207,000. Finally, Mariner LLC bought a new stake in shares of Navios Maritime Partners during the 4th quarter worth $208,000. Institutional investors and hedge funds 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.

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