Key Points
- Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,156 shares at $72.14 each, bringing her total holdings to 4,737,736 shares. The purchase was part of a string of recent insider buys over the prior two weeks.
- Strong quarterly results: The company reported earnings of $3.35 per share, beating estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million. Navios also posted a net margin of 25.05%.
- Shareholder returns improved: Navios Maritime Partners raised its quarterly dividend to $0.06 from $0.05, equal to an annualized dividend of $0.24 per share. The stock was trading near $71.64, close to its 50-day moving average and below its 52-week high of $80.69.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Angeliki Frangou also recently made the following trade(s):
- On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.25 per share, with a total value of $83,665.50.
- On Monday, June 1st, Angeliki Frangou bought 1,203 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.36 per share, with a total value of $85,846.08.
- On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.57 per share, with a total value of $83,205.72.
- On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.65 per share, with a total value of $82,660.50.
- On Wednesday, May 27th, Angeliki Frangou bought 1,132 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.61 per share, with a total value of $82,194.52.
- On Tuesday, May 26th, Angeliki Frangou bought 1,118 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.63 per share, with a total value of $82,318.34.
- On Friday, May 22nd, Angeliki Frangou bought 1,116 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.30 per share, with a total value of $82,918.80.
- On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $77.81 per share, with a total value of $86,135.67.
- On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.48 per share, with a total value of $84,009.24.
- On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.24 per share, with a total value of $84,958.40.
Navios Maritime Partners Stock Down 0.6%
NMM opened at $71.64 on Thursday. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The company has a fifty day moving average of $70.88 and a two-hundred day moving average of $62.71. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 6.03 and a beta of 1.01.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last released 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. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company had revenue of $357.01 million during the quarter, compared to analysts' expectations of $317.80 million. During the same quarter in the previous year, the company earned $1.58 earnings per share. The firm's revenue for the quarter was up 17.4% on a year-over-year basis.
Navios Maritime Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.06 dividend. The ex-dividend date of this dividend 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 is presently 2.02%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NMM. Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective 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 note on Saturday, March 21st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Navios Maritime Partners currently has an average rating of "Moderate Buy" and an average target price of $85.00.
Read Our Latest Report on NMM
Hedge Funds Weigh In On Navios Maritime Partners
Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after acquiring an additional 202 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Navios Maritime Partners during the first quarter worth about $63,000. State of Wyoming acquired a new position in Navios Maritime Partners during the fourth quarter worth about $137,000. Corient Private Wealth LLC acquired a new position in Navios Maritime Partners during the fourth quarter worth about $207,000. Finally, Mariner LLC acquired a new position in Navios Maritime Partners during the fourth quarter worth about $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.
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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