Key Points
- Insider buying continued: Angeliki Frangou acquired 1,057 Navios Maritime Partners shares for $82,868.80, increasing her holdings to 4,789,839 shares valued at roughly $375.5 million. The purchase was part of a series of recent acquisitions.
- Shares showed strong performance: NMM opened at $79.78, up 1.7%, and traded near its 52-week high of $82.84. The company reported quarterly EPS of $3.35, beating estimates, while revenue rose 17.4% year over year to $357.01 million.
- Analyst sentiment remains positive: The stock carries a consensus “Moderate Buy” rating with an average price target of $85.00. Navios also declared a quarterly dividend of $0.06 per share, equivalent to a 0.3% yield.
Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou acquired 1,057 shares of Navios Maritime Partners stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $78.40 per share, with a total value of $82,868.80. Following the completion of the transaction, the insider owned 4,789,839 shares of the company's stock, valued at approximately $375,523,377.60. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Angeliki Frangou also recently made the following trade(s):
- On Wednesday, August 12th, Angeliki Frangou acquired 1,062 shares of Navios Maritime Partners stock. The shares were bought at an average price of $79.16 per share, with a total value of $84,067.92.
- On Monday, August 10th, Angeliki Frangou purchased 1,050 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $79.09 per share, with a total value of $83,044.50.
- On Friday, August 7th, Angeliki Frangou bought 1,054 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $78.94 per share, with a total value of $83,202.76.
- On Thursday, August 6th, Angeliki Frangou acquired 1,063 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $79.53 per share, with a total value of $84,540.39.
- On Wednesday, August 5th, Angeliki Frangou acquired 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 bought 1,041 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $78.94 per share, for a total transaction of $82,176.54.
- On Monday, August 3rd, Angeliki Frangou bought 653 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $79.91 per share, for a total transaction of $52,181.23.
- On Friday, July 31st, Angeliki Frangou bought 830 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $80.00 per share, for a total transaction of $66,400.00.
- On Thursday, July 30th, Angeliki Frangou purchased 1,068 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $78.37 per share, with a total value of $83,699.16.
- On Wednesday, July 29th, Angeliki Frangou purchased 1,051 shares of Navios Maritime Partners stock. The stock was bought at an average price of $78.55 per share, with a total value of $82,556.05.
Navios Maritime Partners Trading Up 1.7%
Shares of NYSE:NMM opened at $79.78 on Thursday. The business's 50 day simple moving average is $74.56 and its 200 day simple moving average is $70.15. Navios Maritime Partners LP has a 1 year low of $42.77 and a 1 year high of $82.84. 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 has a market capitalization of $2.29 billion, a P/E ratio of 6.72 and a beta of 1.02.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.58. The firm had revenue of $357.01 million during the quarter, compared to analysts' expectations of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company's quarterly revenue 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 Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners's dividend payout ratio is currently 2.02%.
Wall Street Analysts Forecast Growth
NMM has been the subject of several analyst reports. Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a "buy" rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $85.00.
Read Our Latest Stock Report on NMM
Institutional Trading of Navios Maritime Partners
Institutional investors and hedge funds have recently bought and sold shares of the stock. ION Fund Management Ltd bought a new stake in Navios Maritime Partners during the fourth quarter valued at $24,432,000. Walleye Capital LLC grew its stake in shares of Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock valued at $10,090,000 after buying an additional 149,858 shares during the period. Marnell Management LLC bought a new stake in Navios Maritime Partners in the 4th quarter valued at about $5,027,000. Bank of America Corp DE raised its stake in Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after buying an additional 72,754 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Navios Maritime Partners by 150.9% during the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock worth $4,589,000 after buying an additional 52,651 shares during the period. 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
