Navios Maritime Partners (NYSE:NMM) Insider Buys $84,236.12 in Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,159 shares for about $84,236, adding to a string of recent purchases made over several trading days in June.
• Strong latest quarter: The shipping company reported quarterly EPS of $3.35, beating estimates by $0.58, while revenue came in at $357.01 million, above expectations and up 17.4% year over year.
• Dividend and valuation backdrop: Navios recently increased 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 bought 1,159 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $72.68 per share, for a total transaction of $84,236.12. Following the transaction, the insider owned 4,752,698 shares in the company, valued at $345,426,090.64. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, June 25th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.94 per share, for a total transaction of $82,587.12.
• On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average price 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 acquired at an average price of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.18 per share, with a total value of $83,295.72.

Navios Maritime Partners Price Performance

Shares of NMM traded down $1.47 during midday trading on Thursday, hitting $69.72. 79,672 shares of the company traded hands, compared to its average volume of 106,420. The stock has a 50-day moving average of $72.01 and a 200-day moving average of $64.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $80.69. The firm has a market cap of $2.00 billion, a P/E ratio of 5.87 and a beta of 1.01.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its 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. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The business had revenue of $357.01 million for the quarter, compared to analysts' expectations of $317.80 million. During the same period in the prior year, the company posted $1.58 EPS. The business's revenue for the quarter was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently issued reports on NMM. Jefferies Financial Group began 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 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 cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

Institutional Trading of Navios Maritime Partners

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Navios Maritime Partners by 64.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company's stock worth $672,000 after buying an additional 7,006 shares during the period. Jump Financial LLC bought a new stake in Navios Maritime Partners during the 2nd quarter valued at about $580,000. Cerity Partners LLC bought a new stake in Navios Maritime Partners during the 2nd quarter valued at about $212,000. BNP Paribas Financial Markets raised its holdings in Navios Maritime Partners by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company's stock worth $290,000 after buying an additional 1,559 shares during the last quarter. Finally, Ion Asset Management Ltd. lifted its stake 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 buying an additional 17,285 shares in the last quarter. 62.74% of the stock is owned by institutional investors.

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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