Key Points
- Angeliki Frangou bought multiple tranches of Navios Maritime Partners stock in April, most recently acquiring 1,145 shares at $72.08, bringing her total holdings to 4,709,005 shares (valued at ~ $339.4M), a roughly 0.02% increase in ownership.
- Navios reported a strong quarter ($3.40 EPS vs $2.41 expected and $365.6M revenue vs $316M expected), raised its quarterly dividend to $0.06 (annualized $0.24, yield 0.3%), and carries an average analyst rating of Buy with a $85 price target.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,145 shares of the stock in a transaction dated Tuesday, April 28th. The shares were bought at an average cost of $72.08 per share, for a total transaction of $82,531.60. Following the completion of the transaction, the insider owned 4,709,005 shares in the company, valued at approximately $339,425,080.40. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
Angeliki Frangou also recently made the following trade(s):
- On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.72 per share, for a total transaction of $83,123.48.
- On Monday, April 27th, Angeliki Frangou acquired 1,185 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.44 per share, for a total transaction of $84,656.40.
- On Friday, April 24th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.39 per share, for a total transaction of $84,186.44.
- On Thursday, April 23rd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.22 per share, for a total transaction of $83,351.14.
- On Wednesday, April 22nd, Angeliki Frangou acquired 1,214 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.58 per share, for a total transaction of $84,470.12.
- On Monday, April 20th, Angeliki Frangou acquired 1,190 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.30 per share, for a total transaction of $83,657.00.
- On Friday, April 17th, Angeliki Frangou acquired 1,201 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.39 per share, for a total transaction of $84,538.39.
- On Tuesday, April 14th, Angeliki Frangou acquired 1,192 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.39 per share, for a total transaction of $83,904.88.
- On Thursday, April 16th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.71 per share, for a total transaction of $83,582.29.
- On Wednesday, April 15th, Angeliki Frangou purchased 1,201 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $70.23 per share, for a total transaction of $84,346.23.
Navios Maritime Partners Stock Down 1.3%
NYSE NMM opened at $70.93 on Thursday. The stock's 50 day moving average is $68.17 and its 200 day moving average is $58.51. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. Navios Maritime Partners LP has a 12 month low of $33.20 and a 12 month high of $74.21. The stock has a market cap of $2.03 billion, a PE ratio of 7.38 and a beta of 1.23.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company had revenue of $365.55 million for the quarter, compared to analysts' expectations of $316.00 million. During the same period in the previous year, the firm earned $2.61 EPS. The firm's revenue was up 10.0% compared to the same quarter last year.
Navios Maritime Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a 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 presently 2.08%.
Analysts Set New Price Targets
A number of research firms recently commented on NMM. Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price target on the stock. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Finally, Weiss Ratings raised Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $85.00.
Read Our Latest Stock Analysis on NMM
Institutional Trading of Navios Maritime Partners
Several hedge funds have recently modified their holdings of NMM. Royal Bank of Canada raised its holdings 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 acquiring an additional 202 shares in the last quarter. State of Wyoming purchased a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $137,000. Corient Private Wealth LLC purchased a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $207,000. Mariner LLC purchased a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $208,000. Finally, Cerity Partners LLC purchased a new stake in shares of Navios Maritime Partners during the 2nd quarter worth approximately $212,000. 62.74% of the stock is owned by hedge funds and other institutional investors.
About Navios Maritime Partners
(
Get Free Report)
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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