Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $84,707.70 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,155 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $73.34 per share, for a total transaction of $84,707.70. Following the acquisition, the insider owned 4,744,715 shares in the company, valued at approximately $347,977,398.10. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou acquired 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 acquired 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 acquired 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 acquired 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 acquired 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 acquired 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 acquired 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 acquired 1,196 shares of Navios Maritime Partners stock. The stock was 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 stock was purchased at an average cost of $70.65 per share, for a total transaction of $82,660.50.

Navios Maritime Partners Stock Up 2.3%

NMM stock opened at $75.05 on Friday. The stock has a market cap of $2.15 billion, a PE ratio of 6.32 and a beta of 1.01. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $71.68 and its 200 day simple moving average is $63.59. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating the consensus estimate of $2.77 by $0.58. The firm had revenue of $357.01 million for 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%. Navios Maritime Partners’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $1.58 EPS.

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a 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 dividend payout ratio is 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of 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 purchasing an additional 202 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners during the 1st quarter valued at about $63,000. State of Wyoming bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at about $137,000. Corient Private Wealth LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at about $207,000. Finally, Mariner LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at about $208,000. Institutional investors own 62.74% of the company’s stock.

Analyst Ratings Changes

NMM has been the topic of several research analyst reports. 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. Jefferies Financial Group initiated 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. Finally, 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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.