Navios Maritime Partners (NYSE:NMM) Insider Buys 1,170 Shares

Key Points

  • Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,170 shares at $70.20 each, bringing her direct stake to 4,755,016 shares. The filing also shows a steady string of similar purchases in the prior days.
  • Company performance was solid: The shipping firm recently reported quarterly EPS of $3.35, topping estimates by $0.58, on revenue of $357.01 million, which also beat expectations. Revenue rose 17.4% year over year.
  • Dividend and market backdrop: Navios Maritime Partners raised its quarterly dividend to $0.06 per share, though the yield remains low at 0.3%. Shares were down 2.1% on the day and the stock traded around $69.72, below the $85 average analyst target.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,170 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $70.20 per share, for a total transaction of $82,134.00. Following the transaction, the insider directly owned 4,755,016 shares in the company, valued at approximately $333,802,123.20. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Angeliki Frangou also recently made the following trade(s):

  • On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.94 per share, for a total transaction of $82,587.12.
  • On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.68 per share, for a total transaction of $84,236.12.
  • On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.39 per share, with a total value of $84,739.93.
  • On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.10 per share, with a total value of $81,836.10.
  • On Wednesday, June 17th, Angeliki Frangou bought 1,126 shares of Navios Maritime Partners stock. The shares were 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 cost of $73.63 per share, for a total transaction of $82,391.97.
  • On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.73 per share, with a total value of $82,651.38.
  • On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.19 per share, with a total value of $84,205.65.
  • On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were purchased 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 acquired at an average price of $72.18 per share, for a total transaction of $83,295.72.

Navios Maritime Partners Stock Down 2.1%




NMM stock opened at $69.72 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The company's 50 day moving average is $72.01 and its 200 day moving average is $64.77. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 5.87 and a beta of 1.01. Navios Maritime Partners LP has a 1-year low of $36.62 and a 1-year high of $80.69.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $357.01 million for the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's dividend payout ratio is 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently bought and sold shares of NMM. Royal Bank of Canada raised its holdings in shares of Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock valued at $32,000 after acquiring an additional 202 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company's stock valued at $324,000 after acquiring an additional 380 shares in the last quarter. Moors & Cabot Inc. increased its position in Navios Maritime Partners by 0.8% during the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company's stock valued at $4,175,000 after purchasing an additional 750 shares during the period. Valley Wealth Managers Inc. purchased a new position in Navios Maritime Partners during the 1st quarter valued at $63,000. Finally, BNP Paribas Financial Markets raised its holdings in Navios Maritime Partners by 25.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company's stock worth $290,000 after purchasing an additional 1,559 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings lowered shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective on the stock. Finally, Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. One research 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, the stock has an average rating of "Moderate Buy" and an average target price of $85.00.

Get Our Latest Research Report on Navios Maritime Partners

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.

See Also

Insider Buying and Selling by Quarter for Navios Maritime Partners (NYSE:NMM)

This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].

Insider Buying or Selling at Navios Maritime Partners?
Sign-up to receive InsiderTrades.com's daily insider buying and selling report for Navios Maritime Partners and related companies.
Free Insider Buying and Selling Newsletter
Enter your email address below to receive InsiderTrades.com's daily insider buying and selling report.
From Our Partners

Most Read This Month

Recent Articles