Key Points
- Insider buying: Angeliki Frangou purchased 1,054 Navios Maritime Partners shares at $78.94 each, spending $83,202.76. She now directly owns 4.79 million shares valued at approximately $377.9 million, following a series of recent purchases.
- Strong quarterly results: Navios reported quarterly EPS of $3.35, beating estimates of $2.77, while revenue of $357.01 million exceeded forecasts and rose 17.4% year over year.
- Stock and outlook: NMM opened at $79.09, near its 12-month high of $82.84. Analysts maintain a “Moderate Buy” consensus with an average price target of $85, while the company announced a $0.06 quarterly dividend.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou bought 1,054 shares of the business's stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $78.94 per share, for a total transaction of $83,202.76. Following the transaction, the insider directly owned 4,787,732 shares in the company, valued at approximately $377,943,564.08. This represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
Angeliki Frangou also recently made the following trade(s):
- On Thursday, August 6th, Angeliki Frangou bought 1,063 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $79.53 per share, with a total value of $84,540.39.
- On Wednesday, August 5th, Angeliki Frangou purchased 1,064 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $78.41 per share, with a total value of $83,428.24.
- On Tuesday, August 4th, Angeliki Frangou purchased 1,041 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $78.94 per share, with a total value of $82,176.54.
- On Monday, August 3rd, Angeliki Frangou purchased 653 shares of Navios Maritime Partners stock. The stock was bought at an average price of $79.91 per share, for a total transaction of $52,181.23.
- On Friday, July 31st, Angeliki Frangou acquired 830 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $80.00 per share, for a total transaction of $66,400.00.
- On Thursday, July 30th, Angeliki Frangou acquired 1,068 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $78.37 per share, for a total transaction of $83,699.16.
- On Wednesday, July 29th, Angeliki Frangou acquired 1,051 shares of Navios Maritime Partners stock. The shares were bought at an average price of $78.55 per share, with a total value of $82,556.05.
- On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The stock was bought at an average price of $78.59 per share, with a total value of $84,248.48.
- On Wednesday, July 22nd, Angeliki Frangou bought 1,121 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.07 per share, for a total transaction of $83,032.47.
- On Tuesday, July 21st, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.03 per share, for a total transaction of $85,060.47.
Navios Maritime Partners Price Performance
Shares of NYSE:NMM opened at $79.09 on Friday. Navios Maritime Partners LP has a 12 month low of $42.77 and a 12 month high of $82.84. The firm has a market capitalization of $2.27 billion, a P/E ratio of 6.66 and a beta of 1.02. 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 company's fifty day moving average price is $74.14 and its 200 day moving average price is $69.58.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. Navios Maritime Partners's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share.
Navios Maritime Partners Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Navios Maritime Partners's payout ratio is presently 2.02%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC grew its position in Navios Maritime Partners by 74.1% during the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company's stock worth $736,000 after purchasing an additional 4,644 shares during the last quarter. Bank of America Corp DE raised its holdings 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 during the last quarter. Sei Investments Co. purchased a new stake in shares of Navios Maritime Partners in the first quarter valued at about $1,889,000. Walleye Capital LLC boosted its stake in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after buying an additional 149,858 shares during the period. Finally, State of Wyoming boosted its stake in shares of Navios Maritime Partners by 77.8% during the first quarter. State of Wyoming now owns 4,637 shares of the shipping company's stock worth $313,000 after buying an additional 2,029 shares during the period. 62.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Weiss Ratings downgraded 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 note on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective for the company. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.00.
Read 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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