Key Points
- Insider buying continues: Navios Maritime Partners insider Angeliki Frangou bought 1,189 shares at $71.59 each, adding to a series of recent purchases over the prior days. After the latest trade, she directly owned about 4.76 million shares.
- The stock is near its highs: NMM was trading around $75.27, close to its 52-week high of $80.69 and well above its 52-week low of $37.42. The company has a market cap of about $2.16 billion and a low P/E ratio of 6.38.
- Recent fundamentals were solid: Navios Maritime Partners reported Q1 earnings of $3.35 per share, beating estimates, while revenue rose 17.4% year over year to $357.01 million. The company also raised its quarterly dividend to $0.06 per share from $0.05.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,189 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was bought at an average price of $71.59 per share, with a total value of $85,120.51. Following the acquisition, the insider directly owned 4,759,807 shares in the company, valued at approximately $340,754,583.13. This represents a 0.02% increase in their ownership of the stock. The transaction 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, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.48 per share, for a total transaction of $85,577.52.
- On Thursday, July 2nd, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.05 per share, for a total transaction of $85,687.65.
- On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.22 per share, with a total value of $82,717.90.
- On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.50 per share, with a total value of $83,330.50.
- On Monday, June 29th, Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock. The shares were bought at an average price of $68.88 per share, with a total value of $83,207.04.
- On Thursday, June 25th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.20 per share, for a total transaction of $82,134.00.
- On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.94 per share, with a total value of $82,587.12.
- On Tuesday, June 23rd, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.68 per share, with a total value of $84,236.12.
- On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.39 per share, with a total value of $84,739.93.
- On Thursday, June 18th, Angeliki Frangou bought 1,151 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.10 per share, for a total transaction of $81,836.10.
Navios Maritime Partners Stock Up 0.6%
Navios Maritime Partners stock opened at $75.27 on Tuesday. Navios Maritime Partners LP has a fifty-two week low of $37.42 and a fifty-two week high of $80.69. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 6.38 and a beta of 1.00. The stock's fifty day moving average is $72.26 and its two-hundred day moving average is $65.72. 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 (NYSE:NMM - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 EPS.
Navios Maritime Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.06 per share. The ex-dividend date was Monday, May 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. This is an increase from Navios Maritime Partners's previous quarterly dividend of $0.05. Navios Maritime Partners's payout ratio is presently 2.02%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Weiss Ratings cut Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Jefferies Financial Group began coverage on Navios Maritime Partners in a research 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 investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.00.
Check Out Our Latest Stock Report on NMM
Hedge Funds Weigh In On Navios Maritime Partners
Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its stake in Navios Maritime Partners by 50.9% in the 4th 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 period. Valley Wealth Managers Inc. acquired a new stake in shares of Navios Maritime Partners during the first quarter worth $63,000. State of Wyoming purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at $137,000. Corient Private Wealth LLC purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at $207,000. Finally, Mariner LLC acquired a new position in Navios Maritime Partners in the fourth quarter valued at $208,000. 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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