Key Points
- Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,111 shares at $73.85 each, adding to a series of recent purchases over the prior two weeks.
- Strong stock performance: The shares traded around $73.49, near their 52-week high of $77.90 and well above the 50-day and 200-day moving averages, with the stock up 0.4% in Wednesday trading.
- Fundamentals and income improved: The company posted stronger-than-expected quarterly earnings and revenue, and it recently increased its quarterly dividend to $0.06 from $0.05.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,111 shares of the business's stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $73.85 per share, for a total transaction of $82,047.35. Following the completion of the acquisition, the insider directly owned 4,719,331 shares of the company's stock, valued at approximately $348,522,594.35. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
Angeliki Frangou also recently made the following trade(s):
- On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.99 per share, with a total value of $83,062.62.
- On Friday, May 8th, Angeliki Frangou bought 1,164 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.62 per share, with a total value of $86,857.68.
- On Thursday, May 7th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.49 per share, for a total transaction of $82,276.15.
- On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.77 per share, for a total transaction of $81,200.22.
- On Tuesday, May 5th, Angeliki Frangou acquired 1,171 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.55 per share, for a total transaction of $87,298.05.
- On Monday, May 4th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.74 per share, with a total value of $83,864.06.
- On Friday, May 1st, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.08 per share, with a total value of $82,097.40.
- On Thursday, April 30th, Angeliki Frangou purchased 1,176 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.03 per share, for a total transaction of $84,707.28.
- On Wednesday, April 29th, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.72 per share, for a total transaction of $83,123.48.
- On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.08 per share, with a total value of $82,531.60.
Navios Maritime Partners Trading Up 0.4%
Shares of Navios Maritime Partners stock opened at $73.49 on Wednesday. The firm has a 50-day simple moving average of $68.85 and a two-hundred day simple moving average of $60.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $77.90. The company has a market cap of $2.11 billion, a P/E ratio of 7.65 and a beta of 1.06.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.99. The firm had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.Navios Maritime Partners's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.61 EPS.
Navios Maritime Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. The ex-dividend date is Monday, May 11th. Navios Maritime Partners's dividend payout ratio (DPR) is presently 2.50%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on NMM shares. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a "buy" rating and a $85.00 price target on the stock. Weiss Ratings upgraded shares of Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $85.00.
Check Out Our Latest Stock Analysis on NMM
Hedge Funds Weigh In On Navios Maritime Partners
Several hedge funds and other institutional investors have recently made changes to their positions in the company. ION Fund Management Ltd acquired a new stake in Navios Maritime Partners during the 4th quarter worth $24,432,000. Marnell Management LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $5,027,000. ING Groep NV lifted its stake in shares of 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 buying an additional 53,400 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Navios Maritime Partners by 150.9% in the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock worth $4,589,000 after buying an additional 52,651 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Navios Maritime Partners during the fourth quarter worth about $1,507,000. Hedge funds and other institutional investors own 62.74% of the company's stock.
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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