Key Points
- Insider buying continued: Navios Maritime Partners CEO Angeliki Frangou bought 1,134 shares at $72.69 each, and she also made several additional purchases in the days around that trade. Her direct ownership now totals about 4.72 million shares.
- Strong recent operating results: The company previously reported quarterly EPS of $3.40, beating estimates of $2.41, on revenue of $365.55 million versus expectations of $316 million. Revenue rose 10% year over year.
- Dividend and analyst sentiment improved: Navios Maritime Partners raised its quarterly dividend to $0.06 per share from $0.05, and Wall Street’s average rating is Buy with a $85 price target. The stock has also been trading near its 52-week high after a strong run.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,134 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $72.69 per share, for a total transaction of $82,430.46. Following the purchase, the insider directly owned 4,721,603 shares in the company, valued at approximately $343,213,322.07. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Angeliki Frangou also recently made the following trade(s):
- On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $70.93 per share, with a total value of $83,129.96.
- On Thursday, May 14th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.61 per share, with a total value of $83,712.09.
- On Tuesday, May 12th, Angeliki Frangou bought 1,138 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.99 per share, with a total value of $83,062.62.
- On Monday, May 11th, Angeliki Frangou bought 1,111 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.85 per share, with a total value of $82,047.35.
- On Friday, May 8th, Angeliki Frangou bought 1,164 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.62 per share, with a total value of $86,857.68.
- On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.49 per share, with a total value of $82,276.15.
- On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.77 per share, with a total value of $81,200.22.
- On Tuesday, May 5th, Angeliki Frangou bought 1,171 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.55 per share, with a total value of $87,298.05.
- On Monday, May 4th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The stock was purchased at an average price 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.
Navios Maritime Partners Stock Performance
Shares of NMM opened at $71.37 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 7.43 and a beta of 1.06. The company has a 50-day moving average of $68.82 and a two-hundred day moving average of $60.45. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $77.90.
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 the consensus estimate of $2.41 by $0.99. The business had revenue of $365.55 million during the quarter, compared to analysts' expectations of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $2.61 earnings per share.
Navios Maritime Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.06 per share. This is an increase from Navios Maritime Partners's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. Navios Maritime Partners's dividend payout ratio is 2.50%.
Hedge Funds Weigh In On Navios Maritime Partners
A number of institutional investors have recently modified their holdings of NMM. ION Fund Management Ltd bought a new position in shares of Navios Maritime Partners in the fourth quarter valued at approximately $24,432,000. Walleye Capital LLC raised its position in shares of 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 valued at $10,090,000 after purchasing an additional 149,858 shares during the period. Marnell Management LLC bought a new position in shares of Navios Maritime Partners in the fourth quarter valued at approximately $5,027,000. ING Groep NV raised its position 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 valued at $4,352,000 after purchasing an additional 53,400 shares during the period. Finally, JPMorgan Chase & Co. raised its position 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 valued at $4,589,000 after purchasing an additional 52,651 shares during the period. Institutional investors own 62.74% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on NMM. 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. Weiss Ratings raised shares of Navios Maritime Partners from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group began 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 objective on the stock. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $85.00.
Check Out Our Latest Stock Report on NMM
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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