Navios Maritime Partners (NYSE:NMM) Insider Purchases $83,515.90 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,105 shares of the business’s stock in a transaction dated Tuesday, July 14th. The stock was purchased at an average cost of $75.58 per share, for a total transaction of $83,515.90. Following the transaction, the insider owned 4,768,783 shares in the company, valued at approximately $360,424,619.14. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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, with a total value of $82,951.00.
• On Friday, July 10th, Angeliki Frangou bought 1,129 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.36 per share, with a total value of $85,081.44.
• On Thursday, July 9th, Angeliki Frangou bought 1,099 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou bought 1,108 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $76.14 per share, with a total value of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.12 per share, for a total transaction of $83,608.56.
• On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou purchased 1,173 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.05 per share, for a total transaction of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.50 per share, with a total value of $83,330.50.

Navios Maritime Partners Stock Down 0.7%

Shares of NMM stock opened at $74.49 on Friday. The stock’s fifty day moving average price is $72.66 and its 200 day moving average price is $67.08. Navios Maritime Partners LP has a 1-year low of $39.11 and a 1-year high of $80.69. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 6.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45.

Navios Maritime Partners (NYSE:NMM) last released its quarterly 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 company had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period last 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. Stockholders of record on Monday, May 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. This is an increase 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 is currently 2.02%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Navios Maritime Partners

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Navios Maritime Partners by 50.9% in 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 during the period. Valley Wealth Managers Inc. purchased a new position in shares of Navios Maritime Partners in the first quarter worth about $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners during the fourth quarter worth about $137,000. Corient Private Wealth LLC acquired a new stake in shares of Navios Maritime Partners during the fourth quarter worth about $207,000. Finally, Mariner LLC purchased a new stake in Navios Maritime Partners in the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.