Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,173 Shares

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,173 shares at $73.05 each, adding to a recent string of purchases totaling multiple small buys over late June and early July.
• Strong quarterly results: The company reported quarterly EPS of $3.35, topping analyst estimates of $2.77, while revenue of $357.01 million also beat expectations and rose 17.4% year over year.
• Dividend and outlook: Navios Maritime Partners recently raised its quarterly dividend to $0.06 per share, and analysts currently have a consensus Moderate Buy rating with a $85 price target.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,173 shares of Navios Maritime Partners stock in a transaction dated Thursday, July 2nd. The shares were purchased at an average price of $73.05 per share, for a total transaction of $85,687.65. Following the completion of the acquisition, the insider owned 4,760,980 shares of the company's stock, valued at approximately $347,789,589. The trade was a 0.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.48 per share, with a total value of $85,577.52.
• On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.39 per share, for a total transaction of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.10 per share, with a total value of $81,836.10.

Navios Maritime Partners Stock Up 3.6%

Shares of NYSE:NMM opened at $75.06 on Tuesday. The firm has a market cap of $2.15 billion, a P/E ratio of 6.32 and a beta of 1.00. 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 12-month low of $37.42 and a 12-month high of $80.69. The business has a fifty day simple moving average of $72.26 and a 200 day simple moving average of $65.72.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.58. The firm had revenue of $357.01 million for 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 business's revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's dividend payout ratio (DPR) is 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Ion Asset Management Ltd. lifted its holdings in shares of Navios Maritime Partners by 2.2% in the 2nd 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 position in shares of Navios Maritime Partners in the fourth quarter valued at $24,432,000. Bank of America Corp DE lifted its stake in shares of Navios Maritime Partners by 57.6% in the first 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. Walleye Capital LLC grew its holdings in shares of Navios Maritime Partners by 45,274.3% during the first 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 during the last quarter. Finally, ING Groep NV increased its position in shares of 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. Institutional investors own 62.74% of the company's stock.

Analyst Ratings Changes

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

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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