Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,203 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,203 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $71.36 per share, for a total transaction of $85,846.08. Following the purchase, the insider directly owned 4,735,422 shares of the company’s stock, valued at approximately $337,919,713.92. This trade represents a 0.03% 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 Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.25 per share, with a total value of $83,665.50.
• On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou bought 1,116 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou bought 1,107 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou bought 1,160 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.24 per share, for a total transaction of $84,958.40.

Navios Maritime Partners Stock Down 0.6%

Shares of NMM opened at $71.64 on Thursday. The business’s 50 day moving average is $70.88 and its 200 day moving average is $62.71. The company has a market capitalization of $2.05 billion, a PE ratio of 6.03 and a beta of 1.01. Navios Maritime Partners LP has a 12-month low of $36.62 and a 12-month high of $80.69. 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 (NYSE:NMM) last issued its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $1.58 EPS.

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 paid a dividend of $0.06 per share. 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. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is 2.02%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Navios Maritime Partners

Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Navios Maritime Partners by 50.9% during the 4th 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 last quarter. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners during the 1st quarter valued at approximately $63,000. State of Wyoming bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at approximately $137,000. Corient Private Wealth LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at approximately $207,000. Finally, Mariner LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at approximately $208,000. 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.