Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,196 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $69.57 per share, with a total value of $83,205.72. Following the completion of the acquisition, the insider owned 4,734,219 shares in the company, valued at approximately $329,359,615.83. The trade was a 0.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.65 per share, with a total value of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou bought 1,132 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou bought 1,118 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.30 per share, with a total value of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $77.81 per share, with a total value of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The shares were acquired 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 shares were acquired at an average price of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou purchased 1,163 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou purchased 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.

Navios Maritime Partners Stock Performance

Shares of NYSE NMM traded down $0.43 during trading hours on Friday, reaching $69.23. The stock had a trading volume of 150,803 shares, compared to its average volume of 158,294. The business’s fifty day moving average is $70.51 and its two-hundred day moving average is $62.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.13. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 5.83 and a beta of 1.06. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve month high of $80.69.

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

Navios Maritime Partners Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NMM shares. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Jefferies Financial Group started coverage on Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of 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 acquiring an additional 72,754 shares during the period. Empowered Funds LLC boosted its stake in Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock valued at $736,000 after purchasing an additional 4,644 shares during the period. Sei Investments Co. bought a new stake in Navios Maritime Partners in the 1st quarter valued at $1,889,000. Walleye Capital LLC boosted its stake in Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after purchasing an additional 149,858 shares during the period. Finally, State of Wyoming boosted its stake in Navios Maritime Partners by 77.8% in the 1st quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after purchasing an additional 2,029 shares during the period. 62.74% of the stock is currently owned by institutional investors.

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.