Navios Maritime Partners (NYSE:NMM) Insider Buys $84,656.40 in Stock

Key Points

• Angeliki Frangou executed another insider purchase on April 27, buying 1,185 shares at $71.44 for $84,656.40 and has repeatedly acquired similar lots throughout April, bringing her total holdings to 4,707,860 shares (a ~0.03% increase); the transaction was disclosed in an SEC filing.
• Navios beat expectations for the quarter with EPS $3.40 vs. $2.41 consensus and revenue of $365.6M (up 10% YoY), and the company raised its quarterly dividend to $0.06 (annualized $0.24, yield ~0.3%).
• The stock traded around $70.93 (down ~1.3%), has a market cap of $2.03B and a P/E of 7.38, a 52‑week range of $33.20–$74.21, and has recently drawn buy coverage including a Jefferies $85 price target.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,185 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average cost of $71.44 per share, for a total transaction of $84,656.40. Following the completion of the acquisition, the insider owned 4,707,860 shares in the company, valued at $336,329,518.40. This represents a 0.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.72 per share, for a total transaction of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.08 per share, for a total transaction of $82,531.60.
• On Friday, April 24th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.39 per share, for a total transaction of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.22 per share, for a total transaction of $83,351.14.
• On Wednesday, April 22nd, Angeliki Frangou acquired 1,214 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $69.58 per share, for a total transaction of $84,470.12.
• On Monday, April 20th, Angeliki Frangou purchased 1,190 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.30 per share, for a total transaction of $83,657.00.
• On Friday, April 17th, Angeliki Frangou purchased 1,201 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.39 per share, for a total transaction of $84,538.39.
• On Tuesday, April 14th, Angeliki Frangou purchased 1,192 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.39 per share, for a total transaction of $83,904.88.
• On Thursday, April 16th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.71 per share, for a total transaction of $83,582.29.
• On Wednesday, April 15th, Angeliki Frangou purchased 1,201 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.23 per share, for a total transaction of $84,346.23.

Navios Maritime Partners Trading Down 1.3%

NMM traded down $0.97 on Wednesday, hitting $70.93. 93,686 shares of the company were exchanged, compared to its average volume of 158,642. The firm has a fifty day simple moving average of $68.17 and a two-hundred day simple moving average of $58.51. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. Navios Maritime Partners LP has a 12 month low of $33.20 and a 12 month high of $74.21. The stock has a market capitalization of $2.03 billion, a PE ratio of 7.38 and a beta of 1.23.

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

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be 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 is 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 is 2.08%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently made changes to their positions in the business. Ion Asset Management Ltd. grew its position 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 buying an additional 17,285 shares during the last quarter. ION Fund Management Ltd purchased a new position in shares of Navios Maritime Partners in the 4th quarter valued at approximately $24,432,000. Commonwealth Equity Services LLC lifted its stake in shares of Navios Maritime Partners by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company's stock valued at $7,152,000 after purchasing an additional 2,045 shares during the period. ING Groep NV lifted its stake in shares of Navios Maritime Partners by 51.7% in the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock valued at $7,681,000 after purchasing an additional 49,900 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Navios Maritime Partners by 28.8% in the 3rd quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company's stock valued at $5,314,000 after purchasing an additional 26,340 shares during the period. 62.74% of the stock is currently 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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