Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,119 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,119 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was bought at an average cost of $73.63 per share, with a total value of $82,391.97. Following the transaction, the insider directly owned 4,748,075 shares of the company’s stock, valued at approximately $349,600,762.25. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.25 per share, with a total value of $83,665.50.

Navios Maritime Partners Trading Down 0.7%

Shares of NMM opened at $73.87 on Wednesday. The company has a market capitalization of $2.12 billion, a P/E ratio of 6.22 and a beta of 1.01. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $80.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a 50-day moving average price of $71.87 and a 200 day moving average price of $63.96.

Navios Maritime Partners (NYSE:NMM) last issued 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 firm had revenue of $357.01 million during 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%.Navios Maritime Partners’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The firm 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 an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.02%.

Analysts Set New Price Targets

A number of research analysts have commented on NMM shares. Jefferies Financial Group started coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Finally, Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock worth $1,572,000 after purchasing an additional 17,040 shares during the period. Arbiter Partners Capital Management LLC acquired a new stake in shares of Navios Maritime Partners during the 3rd quarter worth approximately $1,117,000. ING Groep NV raised its position in shares of Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after purchasing an additional 49,900 shares during the period. Marnell Management LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $5,027,000. Finally, Empowered Funds LLC raised its position in shares of Navios Maritime Partners by 74.1% during the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after purchasing an additional 4,644 shares during the period. 62.74% of the stock is currently owned by institutional investors and hedge funds.

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.