Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,041 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,041 shares of Navios Maritime Partners stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average cost of $78.94 per share, with a total value of $82,176.54. Following the completion of the purchase, the insider owned 4,784,551 shares in the company, valued at approximately $377,692,455.94. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, August 3rd, Angeliki Frangou purchased 653 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $79.91 per share, with a total value 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 price of $80.00 per share, with a total value 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 bought 1,051 shares of Navios Maritime Partners stock. The stock was bought at an average price of $78.55 per share, for a total transaction of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $78.59 per share, with a total value of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou purchased 1,121 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.07 per share, with a total value of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.03 per share, for a total transaction of $85,060.47.
• On Monday, July 20th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.95 per share, for a total transaction of $85,132.65.
• On Monday, July 27th, Angeliki Frangou acquired 1,053 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $77.64 per share, with a total value of $81,754.92.
• On Friday, July 24th, Angeliki Frangou bought 1,084 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $79.02 per share, with a total value of $85,657.68.

Navios Maritime Partners Price Performance

Shares of Navios Maritime Partners stock traded down $2.66 during mid-day trading on Tuesday, reaching $78.45. 133,606 shares of the stock traded hands, compared to its average volume of 112,944. The stock has a market capitalization of $2.25 billion, a PE ratio of 6.61 and a beta of 1.02. The business has a 50-day moving average of $73.62 and a 200 day moving average of $69.20. Navios Maritime Partners LP has a fifty-two week low of $42.77 and a fifty-two week high of $82.84. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly 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 return on equity of 10.48% and a net margin of 25.05%.The firm had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. During the same period in the previous year, the business earned $1.58 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis.

Navios Maritime Partners Announces Dividend

The firm 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 dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 10th. 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 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently bought and sold shares of NMM. Royal Bank of Canada raised its position in shares of 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 buying an additional 202 shares during the period. Valley Wealth Managers Inc. purchased a new position in Navios Maritime Partners in the first quarter worth approximately $63,000. State of Wyoming acquired a new stake in Navios Maritime Partners during the fourth quarter worth $137,000. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners in the fourth quarter valued at $207,000. Finally, Mariner LLC purchased a new stake in Navios Maritime Partners in the fourth quarter valued at $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NMM. Jefferies Financial Group started 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 target on the stock. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.