Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,149 Shares of Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,149 shares on July 6 at an average price of $74.48, adding to a string of recent purchases over the prior two weeks.
• Strong quarterly results: The company reported quarterly EPS of $3.35, beating consensus estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
• Positive but mixed outlook: Navios Maritime Partners recently raised its quarterly dividend to $0.06 per share, and analysts currently rate the stock a Moderate Buy with a $85.00 average price target.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,149 shares of the firm's stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of $74.48 per share, for a total transaction of $85,577.52. Following the purchase, the insider owned 4,762,129 shares in the company, valued at $354,683,367.92. This represents a 0.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, July 2nd, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou purchased 1,189 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $69.50 per share, with a total value of $83,330.50.
• On Monday, June 29th, Angeliki Frangou bought 1,208 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou bought 1,151 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.10 per share, with a total value of $81,836.10.

Navios Maritime Partners Price Performance

Shares of NYSE NMM opened at $75.06 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.00. The stock's 50-day moving average is $72.26 and its two-hundred day moving average is $65.72. Navios Maritime Partners LP has a 1-year low of $37.42 and a 1-year high of $80.69.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same period in the previous year, the company posted $1.58 earnings per share. The business's revenue for the quarter was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Institutional Investors Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of NMM. Royal Bank of Canada boosted its position in shares of Navios Maritime Partners by 50.9% during 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 in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Navios Maritime Partners in the 1st quarter valued at about $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $137,000. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners during the fourth quarter worth about $207,000. Finally, Mariner LLC purchased a new stake in Navios Maritime Partners during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 62.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Jefferies Financial Group started coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 target price for the company. Finally, Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.00.

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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