Navios Maritime Partners (NYSE:NMM) Insider Purchases $83,393.84 in Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,156 shares at $72.14 each, spending $83,393.84 and bringing her total holdings to 4.74 million shares. The article notes she has also made several similar purchases in recent days.
• Strong quarterly results: The shipping company reported Q1 earnings of $3.35 per share, topping analyst estimates of $2.77, while revenue of $357.01 million also exceeded expectations. Revenue rose 17.4% year over year.
• Dividend and stock snapshot: Navios Maritime Partners raised its quarterly dividend to $0.06 from $0.05, though the annualized yield remains low at 0.3%. The stock traded around $71.64, near its 50-day average and below its 52-week high of $80.69.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,156 shares of the firm's stock in a transaction on Wednesday, June 3rd. The stock was acquired at an average cost of $72.14 per share, with a total value of $83,393.84. Following the acquisition, the insider owned 4,737,736 shares of the company's stock, valued at $341,780,275.04. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, June 2nd, Angeliki Frangou acquired 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 acquired 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 acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired 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 stock was acquired at an average cost of $74.30 per share, with a total value of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou bought 1,107 shares of Navios Maritime Partners stock. The stock was bought at an average price of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The stock was bought at an average price of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou bought 1,160 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.24 per share, for a total transaction of $84,958.40.

Navios Maritime Partners Stock Performance

NMM stock traded down $0.45 during mid-day trading on Wednesday, reaching $71.64. The company had a trading volume of 105,775 shares, compared to its average volume of 146,882. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.05 billion, a P/E ratio of 6.03 and a beta of 1.01. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $80.69. The stock's 50-day simple moving average is $70.88 and its two-hundred day simple moving average is $62.71.

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

Navios Maritime Partners Increases Dividend

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

Wall Street Analyst Weigh In

NMM has been the topic of a number of recent research reports. Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Wall Street Zen upgraded Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a "buy" rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors have recently bought and sold shares of NMM. ION Fund Management Ltd acquired a new stake in Navios Maritime Partners in the fourth quarter worth about $24,432,000. Walleye Capital LLC lifted its holdings in Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after purchasing an additional 149,858 shares during the period. Marnell Management LLC acquired a new stake in Navios Maritime Partners in the fourth quarter worth about $5,027,000. Bank of America Corp DE lifted its holdings in Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after purchasing an additional 72,754 shares during the period. Finally, ING Groep NV lifted its holdings in Navios Maritime Partners by 123.6% in the third quarter. ING Groep NV now owns 96,600 shares of the shipping company's stock worth $4,352,000 after purchasing an additional 53,400 shares during the period. 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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