Key Points
- Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,119 shares on June 16 for about $82,392, adding to a string of recent purchases over the prior two weeks.
- Strong quarterly results: The company reported Q1 earnings of $3.35 per share, well above the $2.77 consensus, on revenue of $357.01 million, which also topped analyst expectations.
- Dividend and valuation backdrop: Navios Maritime Partners raised its quarterly dividend to $0.06 per share, while analysts currently rate the stock a “Moderate Buy” with an average price target of $85.00.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,119 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average price of $73.63 per share, for a total transaction of $82,391.97. Following the completion of the transaction, the insider owned 4,748,075 shares in the company, valued at $349,600,762.25. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Angeliki Frangou also recently made the following trade(s):
- On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.73 per share, for a total transaction of $82,651.38.
- On Friday, June 12th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.19 per share, for a total transaction of $84,205.65.
- On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.34 per share, for a total transaction of $84,707.70.
- On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.18 per share, for a total transaction of $83,295.72.
- On Tuesday, June 9th, Angeliki Frangou bought 1,175 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.09 per share, for a total transaction of $84,705.75.
- On Monday, June 8th, Angeliki Frangou bought 1,162 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.02 per share, for a total transaction of $82,525.24.
- On Friday, June 5th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.66 per share, for a total transaction of $83,627.22.
- On Thursday, June 4th, Angeliki Frangou bought 1,166 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.77 per share, for a total transaction of $83,683.82.
- On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.14 per share, for a total transaction of $83,393.84.
- On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.25 per share, for a total transaction of $83,665.50.
Navios Maritime Partners Stock Down 0.7%
NMM opened at $73.87 on Wednesday. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $80.69. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market cap of $2.12 billion, a P/E ratio of 6.22 and a beta of 1.01. The stock's 50 day moving average price is $71.87 and its 200 day moving average price is $63.96.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company had revenue of $357.01 million for the quarter, compared to analysts' expectations of $317.80 million. During the same period last year, the firm earned $1.58 EPS. 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 declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.06 per share. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. The ex-dividend date was Monday, May 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners's payout ratio is 2.02%.
Analysts Set New Price Targets
NMM has been the topic of several research analyst reports. Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. 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 on the stock. Finally, Wall Street Zen upgraded Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $85.00.
Read Our Latest Research Report on NMM
Institutional Trading of Navios Maritime Partners
Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after buying an additional 202 shares during the period. Valley Wealth Managers Inc. acquired a new stake in shares of Navios Maritime Partners in the first quarter worth $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners in the fourth quarter worth $137,000. Corient Private Wealth LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter worth $207,000. Finally, Mariner LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter worth $208,000. Institutional investors and hedge funds 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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