Key Points
- Insider buying: Angeliki Frangou purchased 1,051 Navios Maritime Partners shares at an average $78.55, spending $82,556.05. She now directly owns approximately 4.78 million shares and has made multiple additional purchases recently.
- Strong quarterly results: Navios Maritime Partners reported quarterly EPS of $3.35, beating estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
- Stock and outlook: NMM opened at $79.22, near its 52-week high of $80.97. Analysts maintain a “Moderate Buy” consensus with an $85 price target, while the company declared a quarterly dividend of $0.06 per share.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,051 shares of the stock in a transaction on Wednesday, July 29th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $82,556.05. Following the transaction, the insider directly owned 4,780,959 shares of the company's stock, valued at approximately $375,544,329.45. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Angeliki Frangou also recently made the following trade(s):
- On Thursday, July 30th, Angeliki Frangou acquired 1,068 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $78.37 per share, with a total value of $83,699.16.
- On Tuesday, July 28th, Angeliki Frangou acquired 1,072 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $78.59 per share, for a total transaction of $84,248.48.
- On Wednesday, July 22nd, Angeliki Frangou acquired 1,121 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.07 per share, for a total transaction of $83,032.47.
- On Tuesday, July 21st, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.03 per share, for a total transaction of $85,060.47.
- On Monday, July 20th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.95 per share, with a total value of $85,132.65.
- On Monday, July 27th, Angeliki Frangou bought 1,053 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $77.64 per share, with a total value of $81,754.92.
- On Friday, July 24th, Angeliki Frangou purchased 1,084 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $79.02 per share, for a total transaction of $85,657.68.
- On Thursday, July 23rd, Angeliki Frangou purchased 1,131 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.81 per share, for a total transaction of $84,610.11.
- On Tuesday, July 14th, Angeliki Frangou purchased 1,105 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $75.58 per share, for a total transaction of $83,515.90.
- On Monday, July 13th, Angeliki Frangou acquired 1,100 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $75.41 per share, with a total value of $82,951.00.
Navios Maritime Partners Price Performance
Shares of Navios Maritime Partners stock opened at $79.22 on Friday. Navios Maritime Partners LP has a 52-week low of $40.80 and a 52-week high of $80.97. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 6.67 and a beta of 1.00. The company has a fifty day moving average of $73.26 and a 200-day moving average of $68.69. 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 issued its earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.58. The company had revenue of $357.01 million for the quarter, compared to analysts' expectations of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm's revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS.
Navios Maritime Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Navios Maritime Partners's dividend payout ratio (DPR) is 2.02%.
Hedge Funds Weigh In On Navios Maritime Partners
A number of hedge funds have recently modified their holdings of NMM. JPMorgan Chase & Co. raised its stake in shares of Navios Maritime Partners by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company's stock valued at $1,572,000 after acquiring an additional 17,040 shares during the last quarter. Marnell Management LLC purchased a new stake in shares of Navios Maritime Partners during the fourth quarter worth about $5,027,000. ING Groep NV grew its stake 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 purchasing an additional 49,900 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Navios Maritime Partners in the first quarter worth about $622,000. Finally, Live Oak Investment Partners increased its holdings in Navios Maritime Partners by 6.8% during the 4th quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company's stock valued at $1,692,000 after purchasing an additional 2,063 shares during the period. Hedge funds and other institutional investors own 62.74% of the company's stock.
Analyst Upgrades and Downgrades
NMM has been the subject of a number of recent research reports. Weiss Ratings lowered Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Jefferies Financial Group began coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Navios Maritime Partners has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.
View Our Latest Analysis 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.
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