Angeliki Frangou Purchases 1,118 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,118 shares of Navios Maritime Partners stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $73.63 per share, with a total value of $82,318.34. Following the transaction, the insider owned 4,730,721 shares of the company’s stock, valued at approximately $348,322,987.23. This 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 can be accessed through this link.

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

• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $77.81 per share, with a total value of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou acquired 1,163 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.61 per share, with a total value of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou purchased 1,134 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.69 per share, with a total value of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou bought 1,138 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou bought 1,111 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.85 per share, for a total transaction of $82,047.35.

Navios Maritime Partners Stock Down 1.4%

Shares of NMM traded down $1.04 during midday trading on Tuesday, hitting $73.48. The company had a trading volume of 113,843 shares, compared to its average volume of 153,271. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 6.19 and a beta of 1.06. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69. The company’s 50 day moving average price is $70.21 and its 200 day moving average price is $61.84. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS 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 10.62%. 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 prior year, the firm earned $1.58 EPS. Navios Maritime Partners’s quarterly revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is 2.02%.

Institutional Trading of Navios Maritime Partners

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares during the period. Valley Wealth Managers Inc. bought a new stake in Navios Maritime Partners in the 1st quarter worth about $63,000. State of Wyoming bought a new stake in Navios Maritime Partners in the 4th quarter worth about $137,000. Corient Private Wealth LLC purchased a new position in Navios Maritime Partners in the fourth quarter worth about $207,000. Finally, Mariner LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at about $208,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analysts Set New Price Targets

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

About Navios Maritime Partners

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.