Navios Maritime Partners (NYSE:NMM) Insider Purchases $82,660.50 in Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,170 shares for about $82,660, adding to a string of recent purchases over multiple trading days.
• Strong quarterly results: The company reported Q1 earnings of $3.35 per share, beating analyst estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
• Dividend and stock snapshot: Navios Maritime Partners recently raised its quarterly dividend to $0.06 per share from $0.05, while the stock traded down 0.6% to $69.23 and remains near its 52-week high of $80.69.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,170 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $70.65 per share, with a total value of $82,660.50. Following the completion of the purchase, the insider owned 4,733,023 shares in the company, valued at $334,388,074.95. This represents a 0.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Wednesday, May 27th, Angeliki Frangou bought 1,132 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou purchased 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 purchased 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.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $77.81 per share, with a total value of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou purchased 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.61 per share, with a total value of $83,712.09.

Navios Maritime Partners Stock Down 0.6%

NYSE:NMM traded down $0.43 during trading hours on Friday, reaching $69.23. 150,803 shares of the stock were exchanged, compared to its average volume of 158,294. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve 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 1.13. The firm has a 50 day moving average of $70.51 and a 200 day moving average of $62.20. The stock has a market cap of $1.98 billion, a PE ratio of 5.83 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 firm had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the prior year, the firm posted $1.58 EPS. The business's revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NMM. JPMorgan Chase & Co. increased its position in shares of Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company's stock worth $672,000 after purchasing an additional 7,006 shares during the period. Jump Financial LLC bought a new position in shares of Navios Maritime Partners in the second quarter worth $580,000. Cerity Partners LLC bought a new position in shares of Navios Maritime Partners in the second quarter worth $212,000. BNP Paribas Financial Markets increased its position 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 worth $290,000 after purchasing an additional 1,559 shares during the period. Finally, Ion Asset Management Ltd. grew its position in 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 acquiring an additional 17,285 shares during the last quarter. Institutional investors own 62.74% of the company's stock.

Wall Street Analyst Weigh In

NMM has been the subject of several recent analyst reports. Jefferies Financial Group started 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. Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday. Finally, Wall Street Zen upgraded Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average 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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