Angeliki Frangou Acquires 1,170 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,170 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $70.20 per share, with a total value of $82,134.00. Following the purchase, the insider directly owned 4,755,016 shares in the company, valued at $333,802,123.20. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.94 per share, for a total transaction of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.39 per share, for a total transaction of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou bought 1,151 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.10 per share, with a total value of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou bought 1,126 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.18 per share, with a total value of $83,295.72.

Navios Maritime Partners Stock Down 0.9%

Navios Maritime Partners stock opened at $69.07 on Friday. Navios Maritime Partners LP has a 1-year low of $36.62 and a 1-year high of $80.69. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 5.82 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $72.00 and a 200 day simple moving average of $64.80.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.58. The firm had revenue of $357.01 million for the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NMM. ION Fund Management Ltd purchased a new stake in shares of Navios Maritime Partners in the fourth quarter worth $24,432,000. Walleye Capital LLC boosted its stake in Navios Maritime Partners by 45,274.3% during the first 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 purchased a new position in Navios Maritime Partners during the fourth quarter worth about $5,027,000. Bank of America Corp DE grew its position in Navios Maritime Partners by 57.6% during the first 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Navios Maritime Partners by 150.9% in the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock worth $4,589,000 after acquiring an additional 52,651 shares during the last quarter. 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.