Key Points
- Insider buying continued at Navios Maritime Partners: CEO Angeliki Frangou bought 1,151 shares for about $81,836, adding to a string of recent purchases over multiple days in June.
- The company is showing solid operating momentum: Navios Maritime Partners reported quarterly EPS of $3.35, beating estimates by $0.58, while revenue of $357.01 million also topped expectations and rose 17.4% year over year.
- Shareholder returns and analyst sentiment remain supportive: The company raised its quarterly dividend to $0.06 from $0.05, and 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 1,151 shares of the stock in a transaction on Thursday, June 18th. The stock was purchased at an average cost of $71.10 per share, for a total transaction of $81,836.10. Following the acquisition, the insider directly owned 4,750,352 shares of the company's stock, valued at $337,750,027.20. The trade was a 0.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Angeliki Frangou also recently made the following trade(s):
- On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.39 per share, for a total transaction of $84,739.93.
- On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.35 per share, for a total transaction of $82,592.10.
- On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, with a total value of $82,391.97.
- On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.73 per share, for a total transaction of $82,651.38.
- On Friday, June 12th, Angeliki Frangou purchased 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 acquired 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.34 per share, with a total value of $84,707.70.
- On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The stock was bought at an average cost 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 shares were bought at an average price of $72.09 per share, for a total transaction of $84,705.75.
- On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.02 per share, with a total value of $82,525.24.
- On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.66 per share, for a total transaction of $83,627.22.
Navios Maritime Partners Trading Up 2.0%
Navios Maritime Partners stock opened at $71.56 on Tuesday. The stock has a 50-day moving average price of $71.91 and a 200 day moving average price of $64.44. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69. The stock has a market cap of $2.05 billion, a PE ratio of 6.03 and a beta of 1.02. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (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 for the quarter, compared to analyst estimates of $317.80 million. During the same period in the prior year, the firm earned $1.58 EPS. The firm's quarterly revenue 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. Stockholders of record on Monday, May 11th were given a $0.06 dividend. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners's dividend payout ratio (DPR) is presently 2.02%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 target price on the stock. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Finally, Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.00.
Check Out Our Latest Stock Analysis on NMM
Hedge Funds Weigh In On Navios Maritime Partners
Hedge funds have recently made changes to their positions in the business. Ion Asset Management Ltd. lifted its holdings in shares of Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock valued at $30,821,000 after acquiring an additional 17,285 shares in the last quarter. ION Fund Management Ltd purchased a new position in Navios Maritime Partners in the fourth quarter valued at about $24,432,000. Bank of America Corp DE raised its position in 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 valued at $13,438,000 after purchasing an additional 72,754 shares during the period. Walleye Capital LLC lifted its stake in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after purchasing an additional 149,858 shares in the last quarter. Finally, ING Groep NV lifted its stake in shares of Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock worth $7,681,000 after purchasing an additional 49,900 shares in the last quarter. Hedge funds and other institutional investors 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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