Key Points
- Insider buying: Navios Maritime Partners insider Angeliki Frangou bought 1,195 shares at $69.22 each, bringing her total holdings to 4.76 million shares. The filing shows a continued pattern of recent purchases over multiple trading days.
- Strong quarterly results: The company reported Q1 earnings of $3.35 per share, topping estimates by $0.58, while revenue of $357.01 million also beat expectations. Revenue rose 17.4% year over year.
- Dividend and analyst outlook: Navios Maritime Partners raised its quarterly dividend to $0.06 per share from $0.05, though the yield remains low at 0.3%. Wall Street’s consensus rating is Moderate Buy, with an average price target of $85.00.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,195 shares of the business's stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of $69.22 per share, with a total value of $82,717.90. Following the completion of the transaction, the insider owned 4,756,211 shares of the company's stock, valued at approximately $329,224,925.42. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Angeliki Frangou also recently made the following trade(s):
- On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.50 per share, for a total transaction of $83,330.50.
- On Monday, June 29th, Angeliki Frangou bought 1,208 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $68.88 per share, with a total value of $83,207.04.
- On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.20 per share, with a total value of $82,134.00.
- On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.94 per share, with a total value of $82,587.12.
- On Tuesday, June 23rd, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.68 per share, with a total value of $84,236.12.
- On Monday, June 22nd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.39 per share, for a total transaction of $84,739.93.
- On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.10 per share, for a total transaction of $81,836.10.
- On Wednesday, June 17th, Angeliki Frangou bought 1,126 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.35 per share, for a total transaction of $82,592.10.
- On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.63 per share, for a total transaction of $82,391.97.
- On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.73 per share, for a total transaction of $82,651.38.
Navios Maritime Partners Trading Up 1.1%
Shares of NMM stock opened at $70.26 on Wednesday. The stock's fifty day moving average price is $72.00 and its two-hundred day moving average price is $65.11. The company has a market cap of $2.01 billion, a PE ratio of 5.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. Navios Maritime Partners LP has a fifty-two week low of $36.88 and a fifty-two week high of $80.69.
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 return on equity of 10.48% and a net margin of 25.05%.The firm had revenue of $357.01 million for the quarter, compared to analysts' expectations of $317.80 million. During the same quarter in the previous year, the business posted $1.58 earnings per share. The business'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. Investors of record on Monday, May 11th were issued a dividend of $0.06 per share. This is a positive change from Navios Maritime Partners's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners's dividend payout ratio (DPR) is 2.02%.
Wall Street Analysts Forecast Growth
NMM has been the topic of several recent research reports. Wall Street Zen upgraded shares of Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 price target for the company. Finally, Weiss Ratings lowered shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $85.00.
View Our Latest Stock Report on NMM
Institutional Investors Weigh In On Navios Maritime Partners
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position 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 worth $32,000 after acquiring an additional 202 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Navios Maritime Partners in the first quarter worth approximately $63,000. State of Wyoming bought a new stake in Navios Maritime Partners in the fourth quarter valued at approximately $137,000. Corient Private Wealth LLC bought a new stake in Navios Maritime Partners in the fourth quarter valued at approximately $207,000. Finally, Mariner LLC acquired a new stake in Navios Maritime Partners during the 4th quarter valued at approximately $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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