Key Points
- Insider buying continued: Navios Maritime Partners insider Angeliki Frangou bought 1,099 shares for about $81,040, adding to a string of recent purchases over the prior two weeks.
- Strong earnings beat: The company reported quarterly EPS of $3.35, well above the $2.77 consensus, while revenue of $357.01 million also topped estimates and rose 17.4% year over year.
- Analyst sentiment remains constructive: The stock carries a Moderate Buy consensus with an average price target of $85, despite one recent rating downgrade from Weiss Ratings.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,099 shares of Navios Maritime Partners stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average price of $73.74 per share, for a total transaction of $81,040.26. Following the completion of the transaction, the insider directly owned 4,765,449 shares of the company's stock, valued at $351,404,209.26. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Angeliki Frangou also recently made the following trade(s):
- On Wednesday, July 8th, Angeliki Frangou purchased 1,108 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $76.14 per share, for a total transaction of $84,363.12.
- On Tuesday, July 7th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $75.12 per share, with a total value of $83,608.56.
- 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, with a total value of $85,577.52.
- On Thursday, July 2nd, Angeliki Frangou acquired 1,173 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.05 per share, with a total value of $85,687.65.
- On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.59 per share, for a total transaction of $85,120.51.
- On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.22 per share, with a total value of $82,717.90.
- On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The shares were 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 cost of $68.88 per share, for a total transaction of $83,207.04.
- On Thursday, June 25th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.20 per share, for a total transaction of $82,134.00.
- On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.94 per share, for a total transaction of $82,587.12.
Navios Maritime Partners Stock Down 2.8%
Shares of NYSE NMM opened at $73.68 on Friday. Navios Maritime Partners LP has a 52-week low of $37.66 and a 52-week high of $80.69. The firm has a fifty day moving average of $72.45 and a 200-day moving average of $66.25. The stock has a market capitalization of $2.11 billion, a PE ratio of 6.21 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 return on equity of 10.48% and a net margin of 25.05%.The business's quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS.
Navios Maritime Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.06 per share. This is a boost from Navios Maritime Partners's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, May 11th. Navios Maritime Partners's payout ratio is currently 2.02%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on NMM shares. Wall Street Zen raised Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 21st. Jefferies Financial Group began 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 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 research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Navios Maritime Partners currently has an average rating of "Moderate Buy" and a consensus price target of $85.00.
Read Our Latest Stock Report on Navios Maritime Partners
Institutional Trading of Navios Maritime Partners
Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Navios Maritime Partners by 95.5% in the third quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company's stock valued at $1,572,000 after purchasing an additional 17,040 shares during the period. Marnell Management LLC purchased a new stake in shares of Navios Maritime Partners in the fourth quarter worth about $5,027,000. ING Groep NV boosted its position in shares of Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock worth $7,681,000 after buying an additional 49,900 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Navios Maritime Partners in the first quarter valued at about $622,000. Finally, Bank of America Corp DE grew its stake in shares of 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 buying an additional 72,754 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.
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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