Angeliki Frangou Purchases 1,041 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,041 shares of the stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $78.94 per share, for a total transaction of $82,176.54. Following the completion of the purchase, the insider owned 4,784,551 shares in the company, valued at approximately $377,692,455.94. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, August 3rd, Angeliki Frangou purchased 653 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $79.91 per share, with a total value of $52,181.23.
• On Friday, July 31st, Angeliki Frangou purchased 830 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $80.00 per share, with a total value of $66,400.00.
• On Thursday, July 30th, Angeliki Frangou purchased 1,068 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $78.37 per share, with a total value of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou purchased 1,051 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $78.55 per share, for a total transaction of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou acquired 1,072 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou acquired 1,121 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.07 per share, with a total value of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.03 per share, with a total value of $85,060.47.
• On Monday, July 20th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.95 per share, with a total value of $85,132.65.
• On Monday, July 27th, Angeliki Frangou bought 1,053 shares of Navios Maritime Partners stock. The shares were acquired at an average price 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 bought at an average cost of $79.02 per share, for a total transaction of $85,657.68.

Navios Maritime Partners Price Performance

Navios Maritime Partners stock opened at $78.12 on Thursday. The stock has a market capitalization of $2.24 billion, a P/E ratio of 6.58 and a beta of 1.02. The company’s fifty day moving average price is $73.76 and its 200 day moving average price is $69.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. Navios Maritime Partners LP has a 1 year low of $42.77 and a 1 year high of $82.84.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share.

Navios Maritime Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, August 10th. Navios Maritime Partners’s payout ratio is presently 2.02%.

Institutional Trading of Navios Maritime Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ion Asset Management Ltd. lifted its holdings in Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after acquiring an additional 17,285 shares during the last quarter. ION Fund Management Ltd acquired a new stake in Navios Maritime Partners during the fourth quarter worth $24,432,000. Bank of America Corp DE raised its position in Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after purchasing an additional 72,754 shares during the period. Walleye Capital LLC raised its position in 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 lifted its stake in shares of Navios Maritime Partners by 51.7% in the 4th 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 last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NMM shares. Jefferies Financial Group began coverage on Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.