Navios Maritime Partners (NYSE:NMM) Insider Purchases $84,707.70 in Stock

Key Points

• Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,155 shares for about $84,707, adding to a string of purchases made over the prior 10 days. After the latest trade, she directly owned about 4.74 million shares.
• Strong quarterly results: The company reported quarterly earnings of $3.35 per share, beating analyst expectations of $2.77, on revenue of $357.01 million versus estimates of $317.80 million. Revenue rose 17.4% year over year.
• Dividend and stock context: Navios recently increased its quarterly dividend to $0.06 per share from $0.05, though the yield remains low at 0.3%. Shares traded around $73.16, near the middle of their 52-week range of $36.62 to $80.69.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,155 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $73.34 per share, for a total transaction of $84,707.70. Following the completion of the transaction, the insider directly owned 4,744,715 shares in the company, valued at $347,977,398.10. This represents a 0.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou acquired 1,175 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.66 per share, for a total transaction of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou acquired 1,166 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.77 per share, for a total transaction of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou acquired 1,158 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.25 per share, for a total transaction of $83,665.50.
• On Monday, June 1st, Angeliki Frangou acquired 1,203 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.65 per share, for a total transaction of $82,660.50.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock traded up $1.04 during midday trading on Thursday, reaching $73.16. 125,905 shares of the company traded hands, compared to its average volume of 134,769. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 6.16 and a beta of 1.01. The business has a 50 day moving average of $71.53 and a two-hundred day moving average of $63.51. 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 issued its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 the consensus estimate of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on NMM shares. Weiss Ratings lowered shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 price target for the company. Finally, Wall Street Zen raised shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $85.00.

Institutional Trading of Navios Maritime Partners

Several hedge funds have recently bought and sold shares of NMM. JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company's stock valued at $1,572,000 after buying an additional 17,040 shares during the last quarter. Arbiter Partners Capital Management LLC bought a new stake in shares of Navios Maritime Partners during the third quarter valued at approximately $1,117,000. ING Groep NV raised its position in shares of Navios Maritime Partners by 123.6% during the third quarter. ING Groep NV now owns 96,600 shares of the shipping company's stock valued at $4,352,000 after buying an additional 53,400 shares during the last quarter. Live Oak Investment Partners raised its position in shares of Navios Maritime Partners by 6.8% during the fourth quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company's stock valued at $1,692,000 after buying an additional 2,063 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $137,000. Institutional investors own 62.74% of the company's stock.

About Navios Maritime Partners

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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