Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,129 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,129 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was purchased at an average price of $75.36 per share, with a total value of $85,081.44. Following the completion of the purchase, the insider directly owned 4,766,578 shares of the company’s stock, valued at approximately $359,209,318.08. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, July 14th, Angeliki Frangou purchased 1,105 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.58 per share, for a total transaction of $83,515.90.
• On Monday, July 13th, Angeliki Frangou acquired 1,100 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $75.41 per share, for a total transaction of $82,951.00.
• On Thursday, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou acquired 1,108 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $76.14 per share, with a total value of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $75.12 per share, with a total value of $83,608.56.
• On Monday, July 6th, Angeliki Frangou bought 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 stock was acquired at an average price of $73.05 per share, for a total transaction of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou purchased 1,189 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou purchased 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 shares were acquired at an average price of $69.50 per share, with a total value of $83,330.50.

Navios Maritime Partners Stock Down 0.5%

NYSE NMM traded down $0.39 during mid-day trading on Tuesday, reaching $75.02. 127,161 shares of the company’s stock traded hands, compared to its average volume of 87,713. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners LP has a 1-year low of $38.77 and a 1-year high of $80.69. The company has a fifty day simple moving average of $72.58 and a 200-day simple moving average of $66.75. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results 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. The company had revenue of $357.01 million for 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 quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on NMM shares. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. 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, 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 equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Ion Asset Management Ltd. boosted its holdings in shares of Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after buying an additional 17,285 shares during the period. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $24,432,000. Bank of America Corp DE grew its stake in 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 buying an additional 72,754 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Navios Maritime Partners by 45,274.3% in the first 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, ING Groep NV increased its stake in shares of Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after purchasing an additional 49,900 shares during the period. 62.74% of the stock is currently owned by 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.