Navios Maritime Partners (NYSE:NMM) Insider Acquires $82,134.00 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,170 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was purchased at an average cost of $70.20 per share, with a total value of $82,134.00. Following the completion of the transaction, the insider directly owned 4,755,016 shares of the company’s stock, valued at approximately $333,802,123.20. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.94 per share, for a total transaction of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.39 per share, for a total transaction of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.18 per share, with a total value of $83,295.72.

Navios Maritime Partners Stock Down 0.9%

Navios Maritime Partners stock opened at $69.07 on Friday. Navios Maritime Partners LP has a 1-year low of $36.62 and a 1-year high of $80.69. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 5.82 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. The firm has a 50 day simple moving average of $72.00 and a 200 day simple moving average of $64.80.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. The business 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%. The business’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 disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors 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 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 presently 2.02%.

Institutional Trading of Navios Maritime Partners

Several institutional investors and hedge funds have recently modified their holdings of NMM. Ion Asset Management Ltd. boosted its position in shares of 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 valued at $30,821,000 after acquiring an additional 17,285 shares during the last quarter. ION Fund Management Ltd bought a new position in shares of Navios Maritime Partners in the fourth quarter worth approximately $24,432,000. Bank of America Corp DE raised its stake 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 in the last quarter. Walleye Capital LLC raised its stake 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 in the last quarter. Finally, ING Groep NV lifted its position in Navios Maritime Partners by 51.7% during the fourth 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. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analyst Upgrades and Downgrades

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