Angeliki Frangou Buys 1,135 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $74.19 per share, with a total value of $84,205.65. Following the completion of the transaction, the insider directly owned 4,745,850 shares of the company’s stock, valued at $352,094,611.50. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 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 Thursday, June 11th, Angeliki Frangou acquired 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 acquired 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 acquired 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 bought 1,162 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou bought 1,166 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.14 per share, with a total value 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 price of $72.25 per share, with a total value of $83,665.50.

Navios Maritime Partners Stock Performance

Shares of NYSE NMM opened at $72.32 on Thursday. The business has a fifty day simple moving average of $71.89 and a 200 day simple moving average of $64.10. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 6.09 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.

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

Navios Maritime Partners Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NMM. Royal Bank of Canada increased its stake 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 buying an additional 202 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Navios Maritime Partners in the first quarter valued at $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at $137,000. Corient Private Wealth LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at $207,000. Finally, Mariner LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.