Navios Maritime Partners (NYSE:NMM) Insider Purchases $82,525.24 in Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,162 shares at an average price of $71.02, bringing her total direct ownership to 4.74 million shares. This follows a series of similar purchases made over the prior two weeks.
• Stock slipped slightly: NMM shares were down 0.8% on Monday to $71.13, with trading volume below average. The company now has a market cap of about $2.04 billion and trades near its 50-day moving average.
• Recent fundamentals were strong: The company reported quarterly EPS of $3.35, beating estimates, while revenue of $357.01 million also topped expectations and rose 17.4% year over year. Navios Maritime Partners also recently raised its quarterly dividend to $0.06 per share.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,162 shares of the firm's stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $71.02 per share, with a total value of $82,525.24. Following the transaction, the insider directly owned 4,741,231 shares in the company, valued at $336,722,225.62. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.25 per share, with a total value of $83,665.50.
• On Monday, June 1st, Angeliki Frangou purchased 1,203 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.65 per share, with a total value of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.30 per share, with a total value of $82,918.80.

Navios Maritime Partners Stock Down 0.8%

Shares of Navios Maritime Partners stock traded down $0.56 during trading on Monday, hitting $71.13. 76,544 shares of the stock were exchanged, compared to its average volume of 140,596. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 5.99 and a beta of 1.02. The firm's 50-day moving average price is $71.13 and its 200 day moving average price is $63.10. Navios Maritime Partners LP has a 12-month low of $36.62 and a 12-month high of $80.69. 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 (NYSE:NMM - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the prior year, the business posted $1.58 EPS. The business's revenue for the quarter was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently bought and sold shares of NMM. JPMorgan Chase & Co. lifted its position in Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company's stock valued at $672,000 after acquiring an additional 7,006 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Navios Maritime Partners in the second quarter valued at about $580,000. Cerity Partners LLC purchased a new stake in shares of Navios Maritime Partners in the second quarter valued at about $212,000. BNP Paribas Financial Markets raised its holdings in shares of 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 valued at $290,000 after buying an additional 1,559 shares during the last quarter. Finally, Ion Asset Management Ltd. raised its holdings 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 valued at $30,821,000 after buying an additional 17,285 shares during the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NMM. Wall Street Zen upgraded Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective on the stock. 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 analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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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