Navios Maritime Partners (NYSE:NMM) Insider Buys $86,857.68 in Stock

Key Points

• Navios Maritime Partners insider buying continued: CEO Angeliki Frangou bought 1,164 shares for about $86,857.68 at $74.62 each, and she has made multiple similar purchases in recent days.
• Strong recent operating results: The shipping company reported quarterly EPS of $3.40, beating estimates, and revenue of $365.55 million, also above expectations.
• Dividend and outlook look supportive: Navios increased its quarterly dividend to $0.06 per share, and analysts currently rate the stock a Buy with a consensus price target of $85.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,164 shares of the company's stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $74.62 per share, with a total value of $86,857.68. Following the transaction, the insider directly owned 4,718,220 shares of the company's stock, valued at approximately $352,073,576.40. This represents a 0.02% increase in their ownership of the stock. 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 Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou purchased 1,111 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.85 per share, with a total value of $82,047.35.
• On Thursday, May 7th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.49 per share, with a total value of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou purchased 1,086 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.77 per share, with a total value of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou acquired 1,171 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.55 per share, with a total value of $87,298.05.
• On Monday, May 4th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.74 per share, with a total value of $83,864.06.
• On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.08 per share, for a total transaction of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou acquired 1,176 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The stock was purchased at an average price 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 stock was purchased at an average price of $72.08 per share, for a total transaction of $82,531.60.

Navios Maritime Partners Stock Performance

NYSE:NMM traded up $0.29 during mid-day trading on Tuesday, hitting $73.49. The stock had a trading volume of 162,309 shares, compared to its average volume of 130,393. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06. The company 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 52 week low of $36.62 and a 52 week high of $77.90. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

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

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be paid 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 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 2.50%.

Wall Street Analysts Forecast Growth

NMM has been the topic of several research analyst reports. Weiss Ratings raised shares of Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, March 17th. Wall Street Zen raised shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 target price on the stock. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after purchasing an additional 202 shares during the period. Valley Wealth Managers Inc. acquired a new stake in Navios Maritime Partners in the first quarter valued at approximately $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $207,000. Finally, Mariner LLC bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 62.74% of the company's stock.

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.

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