Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $83,330.50 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,199 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was bought at an average price of $69.50 per share, with a total value of $83,330.50. Following the completion of the purchase, the insider owned 4,758,618 shares of the company’s stock, valued at approximately $330,723,951. This represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.22 per share, for a total transaction of $82,717.90.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.39 per share, for a total transaction of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.73 per share, with a total value of $82,651.38.

Navios Maritime Partners Stock Up 2.1%

Navios Maritime Partners stock opened at $72.56 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The company’s 50-day moving average is $72.10 and its 200-day moving average is $65.40. The firm has a market capitalization of $2.08 billion, a PE ratio of 6.11 and a beta of 1.00. Navios Maritime Partners LP has a fifty-two week low of $37.42 and a fifty-two week high of $80.69.

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 the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million during the quarter, compared to the consensus estimate 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 revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.06 dividend. 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is 2.02%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NMM. Jefferies Financial Group initiated coverage on 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. 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. Finally, Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors have recently modified their holdings of NMM. ION Fund Management Ltd acquired a new stake in Navios Maritime Partners during the fourth quarter worth approximately $24,432,000. Walleye Capital LLC raised its holdings in Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after acquiring an additional 149,858 shares in the last quarter. Marnell Management LLC acquired a new position in Navios Maritime Partners in the 4th quarter valued at $5,027,000. Bank of America Corp DE lifted its position in shares of Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after acquiring an additional 72,754 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Navios Maritime Partners by 150.9% during the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock valued at $4,589,000 after acquiring an additional 52,651 shares during the period. 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.