Angeliki Frangou Purchases 1,154 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,154 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was purchased at an average cost of $72.18 per share, for a total transaction of $83,295.72. Following the acquisition, the insider owned 4,743,560 shares in the company, valued at approximately $342,390,160.80. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.34 per share, for a total transaction of $84,707.70.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.66 per share, for a total transaction of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.77 per share, for a total transaction of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.25 per share, for a total transaction of $83,665.50.
• On Monday, June 1st, Angeliki Frangou purchased 1,203 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.65 per share, for a total transaction of $82,660.50.

Navios Maritime Partners Trading Up 2.3%

Shares of NMM opened at $75.05 on Friday. The firm’s 50-day moving average price is $71.68 and its 200-day moving average price is $63.59. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.01. 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 1-year low of $36.62 and a 1-year high of $80.69.

Navios Maritime Partners (NYSE:NMM) last announced its 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. The firm had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Valley Wealth Managers Inc. purchased a new position in Navios Maritime Partners during the 1st quarter valued at about $63,000. State of Wyoming purchased a new position in Navios Maritime Partners during the 4th quarter valued at about $137,000. Corient Private Wealth LLC purchased a new position in Navios Maritime Partners during the 4th quarter valued at about $207,000. Finally, Mariner LLC purchased a new position in Navios Maritime Partners during the 4th quarter valued at about $208,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NMM. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $85.00.

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.