Navios Maritime Partners (NYSE:NMM) Insider Buys $83,665.50 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,158 shares of Navios Maritime Partners stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $72.25 per share, for a total transaction of $83,665.50. Following the purchase, the insider directly owned 4,736,580 shares in the company, valued at $342,217,905. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Monday, June 1st, Angeliki Frangou acquired 1,203 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.24 per share, for a total transaction of $84,958.40.

Navios Maritime Partners Stock Performance

Shares of NMM opened at $71.56 on Friday. 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 twelve month low of $36.62 and a twelve month high of $80.69. The firm’s 50 day moving average price is $71.04 and its two-hundred day moving average price is $62.90. The firm has a market cap of $2.05 billion, a P/E ratio of 6.03 and a beta of 1.01.

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

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, May 11th. 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%. Navios Maritime Partners’s payout ratio is presently 2.02%.

Analysts Set New Price Targets

A number of research analysts have weighed in on NMM shares. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

A number of institutional investors have recently made changes to their positions in NMM. ION Fund Management Ltd bought a new stake in shares of Navios Maritime Partners in the fourth quarter worth $24,432,000. Walleye Capital LLC lifted its position in shares of 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 worth $10,090,000 after purchasing an additional 149,858 shares in the last quarter. Marnell Management LLC bought a new stake in shares of Navios Maritime Partners in the fourth quarter worth $5,027,000. Bank of America Corp DE lifted its position in shares of 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 worth $13,438,000 after purchasing an additional 72,754 shares in the last quarter. Finally, ING Groep NV lifted its position in shares of Navios Maritime Partners by 123.6% in the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after purchasing an additional 53,400 shares in the last quarter. Institutional investors own 62.74% of the company’s stock.

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.