Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 1,164 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,164 shares of the stock in a transaction on Friday, May 8th. The stock was acquired at an average cost of $74.62 per share, for a total transaction of $86,857.68. Following the acquisition, the insider directly owned 4,718,220 shares in the company, valued at approximately $352,073,576.40. This trade 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 Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou bought 1,111 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.85 per share, for a total transaction of $82,047.35.
• On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.49 per share, for a total transaction of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.77 per share, for a total transaction of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou bought 1,171 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.08 per share, for a total transaction of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou purchased 1,176 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.72 per share, for a total transaction of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou bought 1,145 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.08 per share, for a total transaction of $82,531.60.

Navios Maritime Partners Trading Up 0.4%

Navios Maritime Partners stock traded up $0.29 during trading hours on Tuesday, reaching $73.49. 162,309 shares of the company’s stock traded hands, compared to its average volume of 130,393. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $77.90. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06. The firm’s 50 day moving average is $68.85 and its 200-day moving average is $60.02.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The company had revenue of $365.55 million for the quarter, compared to the consensus estimate of $316.00 million. During the same period in the prior year, the company posted $2.61 EPS. The company’s revenue was up 10.0% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, May 11th. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio is currently 2.50%.

Analyst Upgrades and Downgrades

NMM has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Navios Maritime Partners currently has an average rating of “Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

A number of large investors have recently bought and sold shares of NMM. JPMorgan Chase & Co. increased its stake in Navios Maritime Partners by 64.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock worth $672,000 after purchasing an additional 7,006 shares in the last quarter. Jump Financial LLC bought a new stake in Navios Maritime Partners during the 2nd quarter worth approximately $580,000. Cerity Partners LLC bought a new stake in Navios Maritime Partners during the 2nd quarter worth approximately $212,000. BNP Paribas Financial Markets increased its stake in Navios Maritime Partners by 25.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Ion Asset Management Ltd. increased its stake in Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after purchasing an additional 17,285 shares in the last quarter. 62.74% of the stock is owned by institutional investors.

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.