Key Points
- Navios Maritime Partners insider Angeliki Frangou bought 1,100 shares on July 13 at an average price of $75.41, spending about $82,951. She now directly owns 4,767,678 shares, worth roughly $359.5 million.
- Frangou has been buying shares repeatedly, with multiple purchases recorded in early July and late June, suggesting sustained insider accumulation of NMM stock.
- The company recently posted stronger-than-expected results, reporting Q1 EPS of $3.35 versus $2.77 expected and revenue of $357.01 million, while also raising its quarterly dividend to $0.06 per share from $0.05.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,100 shares of Navios Maritime Partners stock in a transaction dated Monday, July 13th. The stock was acquired at an average cost of $75.41 per share, for a total transaction of $82,951.00. Following the completion of the acquisition, the insider directly owned 4,767,678 shares in the company, valued at $359,530,597.98. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Angeliki Frangou also recently made the following trade(s):
- On Tuesday, July 14th, Angeliki Frangou purchased 1,105 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $75.58 per share, for a total transaction of $83,515.90.
- On Friday, July 10th, Angeliki Frangou acquired 1,129 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $75.36 per share, with a total value of $85,081.44.
- On Thursday, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.74 per share, for a total transaction of $81,040.26.
- On Wednesday, July 8th, Angeliki Frangou bought 1,108 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $76.14 per share, with a total value 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 cost of $75.12 per share, with a total value of $83,608.56.
- On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.48 per share, for a total transaction of $85,577.52.
- On Thursday, July 2nd, Angeliki Frangou acquired 1,173 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.05 per share, with a total value of $85,687.65.
- On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.59 per share, with a total value of $85,120.51.
- On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.22 per share, for a total transaction of $82,717.90.
- On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.50 per share, for a total transaction of $83,330.50.
Navios Maritime Partners Price Performance
NMM opened at $75.02 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $2.15 billion, a P/E ratio of 6.32 and a beta of 1.00. The company's 50 day simple moving average is $72.58 and its 200-day simple moving average is $66.75. Navios Maritime Partners LP has a one year low of $38.77 and a one year high of $80.69.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings data 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. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm had revenue of $357.01 million during the quarter, compared to analysts' expectations of $317.80 million. During the same quarter in the previous year, the company posted $1.58 EPS. Navios Maritime Partners's revenue was up 17.4% on a year-over-year basis.
Navios Maritime Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.06 per share. The ex-dividend date was Monday, May 11th. This is an increase 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%. Navios Maritime Partners's dividend payout ratio is presently 2.02%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in NMM. ION Fund Management Ltd acquired a new position in Navios Maritime Partners during the fourth quarter valued at approximately $24,432,000. Walleye Capital LLC raised its holdings in Navios Maritime Partners by 45,274.3% in 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 during the period. Marnell Management LLC acquired a new stake in Navios Maritime Partners in the fourth quarter worth $5,027,000. Bank of America Corp DE boosted its position in shares of Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after purchasing an additional 72,754 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Navios Maritime Partners by 150.9% during the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock worth $4,589,000 after purchasing an additional 52,651 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on NMM shares. Wall Street Zen upgraded Navios Maritime Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 21st. Jefferies Financial Group initiated 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. Finally, Weiss Ratings lowered shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note 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's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $85.00.
Read Our Latest Report on NMM
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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