Navios Maritime Partners (NYSE:NMM) Insider Purchases $83,295.72 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,154 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average cost of $72.18 per share, with a total value of $83,295.72. Following the acquisition, the insider owned 4,743,560 shares in the company, valued at $342,390,160.80. The trade was a 0.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.34 per share, with a total value of $84,707.70.
• On Tuesday, June 9th, Angeliki Frangou acquired 1,175 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou acquired 1,166 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou acquired 1,158 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.25 per share, with a total value of $83,665.50.
• On Monday, June 1st, Angeliki Frangou acquired 1,203 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $70.65 per share, with a total value of $82,660.50.

Navios Maritime Partners Trading Up 2.3%

Shares of Navios Maritime Partners stock opened at $75.05 on Friday. The business has a fifty day simple moving average of $71.68 and a two-hundred day simple moving average of $63.59. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $80.69. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results 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. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter last year, the firm posted $1.58 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is 2.02%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NMM shares. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group started coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Navios Maritime Partners presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ion Asset Management Ltd. increased its position in Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after buying an additional 17,285 shares during the period. ION Fund Management Ltd bought a new position in Navios Maritime Partners during the 4th quarter worth $24,432,000. Bank of America Corp DE increased its position 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. Walleye Capital LLC increased its position in Navios Maritime Partners by 45,274.3% during the 1st 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, ING Groep NV increased its position in Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after buying an additional 49,900 shares during the period. 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.