Navios Maritime Partners (NYSE:NMM) Insider Buys $83,062.62 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,138 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $72.99 per share, with a total value of $83,062.62. Following the purchase, the insider owned 4,720,469 shares of the company’s stock, valued at approximately $344,547,032.31. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Angeliki Frangou also recently made the following trade(s):

• On Monday, May 11th, Angeliki Frangou purchased 1,111 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.85 per share, with a total value of $82,047.35.
• On Friday, May 8th, Angeliki Frangou purchased 1,164 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.62 per share, with a total value of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.49 per share, with a total value of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou purchased 1,086 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.77 per share, with a total value of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou purchased 1,171 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.55 per share, with a total value of $87,298.05.
• On Monday, May 4th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.74 per share, with a total value of $83,864.06.
• On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.08 per share, with a total value of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou bought 1,176 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.03 per share, with a total value of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.72 per share, with a total value of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou bought 1,145 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.08 per share, with a total value of $82,531.60.

Navios Maritime Partners Trading Down 0.4%

NYSE NMM opened at $70.99 on Friday. Navios Maritime Partners LP has a 1-year low of $36.62 and a 1-year high of $77.90. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $68.83 and a 200-day moving average of $60.37. The firm has a market cap of $2.04 billion, a PE ratio of 7.39 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the previous year, the company posted $2.61 EPS. Navios Maritime Partners’s revenue for the quarter was up 10.0% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.06 dividend. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. 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 2.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $85.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NMM. Royal Bank of Canada raised its position in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners during the 1st quarter valued at approximately $63,000. State of Wyoming bought a new position in Navios Maritime Partners during the 4th quarter valued at approximately $137,000. Corient Private Wealth LLC bought a new position in Navios Maritime Partners during the 4th quarter valued at approximately $207,000. Finally, Mariner LLC bought a new position in Navios Maritime Partners during the 4th quarter valued at approximately $208,000. Institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

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.