Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,107 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,107 shares of the stock in a transaction on Thursday, May 21st. The shares were purchased at an average cost of $77.81 per share, for a total transaction of $86,135.67. Following the acquisition, the insider directly owned 4,728,487 shares of the company’s stock, valued at approximately $367,923,573.47. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.30 per share, with a total value of $82,918.80.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou acquired 1,163 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou acquired 1,172 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.61 per share, with a total value of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou acquired 1,134 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.69 per share, with a total value of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou acquired 1,111 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.85 per share, with a total value of $82,047.35.

Navios Maritime Partners Trading Down 1.4%

Shares of NMM opened at $73.48 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $80.69. The company has a 50 day simple moving average of $70.21 and a two-hundred day simple moving average of $61.84. The firm has a market cap of $2.11 billion, a P/E ratio of 6.19 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.62%. The business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same period last year, the firm posted $1.58 EPS. The company’s revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners currently has a consensus rating of “Buy” and an average target price of $85.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NMM. Royal Bank of Canada lifted its position in Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after buying an additional 202 shares during the last quarter. Raymond James Financial Inc. lifted its position in Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after buying an additional 380 shares during the last quarter. Moors & Cabot Inc. lifted its position in Navios Maritime Partners by 0.8% in the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after buying an additional 750 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Navios Maritime Partners in the first quarter worth $63,000. Finally, BNP Paribas Financial Markets lifted its position in Navios Maritime Partners by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after buying an additional 1,559 shares during the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.

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.