Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $84,610.11 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,131 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was bought at an average cost of $74.81 per share, for a total transaction of $84,610.11. Following the purchase, the insider directly owned 4,776,699 shares of the company’s stock, valued at approximately $357,344,852.19. This trade 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 is accessible through this hyperlink.

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

• 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 acquired 1,051 shares of Navios Maritime Partners stock. The shares were bought at an average price of $78.55 per share, with a total value of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $78.59 per share, with a total value of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou bought 1,121 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.07 per share, with a total value of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.03 per share, for a total transaction of $85,060.47.
• On Monday, July 20th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.95 per share, for a total transaction of $85,132.65.
• On Monday, July 27th, Angeliki Frangou purchased 1,053 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $77.64 per share, with a total value of $81,754.92.
• On Friday, July 24th, Angeliki Frangou purchased 1,084 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $79.02 per share, with a total value of $85,657.68.
• On Tuesday, July 14th, Angeliki Frangou acquired 1,105 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.58 per share, with a total value of $83,515.90.
• On Monday, July 13th, Angeliki Frangou acquired 1,100 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $75.41 per share, for a total transaction of $82,951.00.

Navios Maritime Partners Stock Up 1.6%

NMM opened at $79.22 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. Navios Maritime Partners LP has a fifty-two week low of $40.80 and a fifty-two week high of $80.97. The firm’s fifty day moving average is $73.26 and its 200 day moving average is $68.69. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 6.67 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 10.48%. The company had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the prior year, the firm posted $1.58 EPS. Navios Maritime Partners’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Navios Maritime Partners’s payout ratio is presently 2.02%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of research firms recently commented on NMM. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Weiss Ratings cut 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate 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.