Key Points
- Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,162 shares at $71.02 each, and she has made a string of similar purchases over the prior weeks. After the latest trade, she directly owned about 4.74 million shares.
- Company results were strong: The shipping company recently reported quarterly EPS of $3.35, topping analyst expectations of $2.77, on revenue of $357.01 million. Revenue rose 17.4% year over year.
- Dividend and analyst sentiment: Navios Maritime Partners raised its quarterly dividend to $0.06 per share from $0.05, though the yield remains modest at 0.3%. Analysts currently have a consensus Moderate Buy rating with a $85 target price.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,162 shares of the stock in a transaction dated Monday, June 8th. The stock was acquired at an average cost of $71.02 per share, with a total value of $82,525.24. Following the transaction, the insider directly owned 4,741,231 shares in the company, valued at approximately $336,722,225.62. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Angeliki Frangou also recently made the following trade(s):
- On Friday, June 5th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.66 per share, with a total value of $83,627.22.
- On Thursday, June 4th, Angeliki Frangou bought 1,166 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.77 per share, with a total value of $83,683.82.
- On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.14 per share, with a total value of $83,393.84.
- On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The shares were purchased 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 purchased 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 purchased 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 purchased 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 purchased 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 purchased 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 purchased at an average cost of $74.30 per share, with a total value of $82,918.80.
Navios Maritime Partners Trading Down 0.8%
NYSE:NMM opened at $71.13 on Tuesday. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69. The firm has a 50 day moving average of $71.13 and a 200 day moving average of $63.10. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 5.99 and a beta of 1.02.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS 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 prior year, the company posted $1.58 earnings per share. Navios Maritime Partners's revenue for the quarter was up 17.4% compared to the same quarter last year.
Navios Maritime Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, May 11th. 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%. Navios Maritime Partners's payout ratio is presently 2.02%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group initiated coverage on 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Navios Maritime Partners has an average rating of "Moderate Buy" and a consensus target price of $85.00.
Read Our Latest Report on Navios Maritime Partners
Institutional Trading of Navios Maritime Partners
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ion Asset Management Ltd. increased its stake in shares of Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock worth $30,821,000 after acquiring an additional 17,285 shares during the period. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners in the fourth quarter worth $24,432,000. Bank of America Corp DE increased its stake in shares of Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after acquiring an additional 72,754 shares during the period. Walleye Capital LLC increased its stake 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 worth $10,090,000 after acquiring an additional 149,858 shares during the period. Finally, ING Groep NV increased its stake in shares of Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock worth $7,681,000 after acquiring an additional 49,900 shares during the period. Institutional investors and hedge funds own 62.74% of the company's stock.
Navios Maritime Partners Company Profile
(
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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