Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 1,068 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,068 shares of Navios Maritime Partners stock in a transaction dated Thursday, July 30th. The stock was purchased at an average price of $78.37 per share, with a total value of $83,699.16. Following the completion of the purchase, the insider directly owned 4,782,027 shares of the company’s stock, valued at $374,767,455.99. The trade was a 0.02% increase in their position. The acquisition 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, July 29th, Angeliki Frangou bought 1,051 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $78.55 per share, for a total transaction of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou bought 1,121 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.07 per share, for a total transaction of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.03 per share, with a total value of $85,060.47.
• On Monday, July 20th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.95 per share, with a total value of $85,132.65.
• On Monday, July 27th, Angeliki Frangou purchased 1,053 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $77.64 per share, for a total transaction of $81,754.92.
• On Friday, July 24th, Angeliki Frangou purchased 1,084 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $79.02 per share, for a total transaction of $85,657.68.
• On Thursday, July 23rd, Angeliki Frangou acquired 1,131 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.81 per share, for a total transaction of $84,610.11.
• On Tuesday, July 14th, Angeliki Frangou acquired 1,105 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $75.58 per share, with a total value of $83,515.90.
• On Monday, July 13th, Angeliki Frangou bought 1,100 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $75.41 per share, with a total value of $82,951.00.

Navios Maritime Partners Stock Performance

NYSE:NMM traded up $1.21 during mid-day trading on Thursday, hitting $79.22. 83,673 shares of the company’s stock traded hands, compared to its average volume of 106,497. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 6.67 and a beta of 1.00. The firm has a 50 day moving average of $73.26 and a two-hundred day moving average of $68.69. 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 LP has a 12 month low of $40.80 and a 12 month high of $80.97.

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, topping the consensus estimate of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company had revenue of $357.01 million for the quarter, compared to the consensus estimate of $317.80 million. During the same period in the previous year, the business posted $1.58 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after buying an additional 202 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Navios Maritime Partners in the 1st quarter valued at $63,000. State of Wyoming acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter worth about $207,000. Finally, Mariner LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter worth about $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

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.