Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,149 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,149 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average cost of $74.48 per share, with a total value of $85,577.52. Following the transaction, the insider directly owned 4,762,129 shares of the company’s stock, valued at approximately $354,683,367.92. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, July 2nd, Angeliki Frangou acquired 1,173 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.05 per share, for a total transaction of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.50 per share, with a total value of $83,330.50.
• On Monday, June 29th, Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou bought 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 bought 1,151 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.10 per share, for a total transaction of $81,836.10.

Navios Maritime Partners Trading Up 0.6%

Shares of Navios Maritime Partners stock opened at $75.27 on Tuesday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 6.38 and a beta of 1.00. 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 company has a 50-day simple moving average of $72.26 and a 200 day simple moving average of $65.72. Navios Maritime Partners LP has a 12-month low of $37.42 and a 12-month high of $80.69.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS 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 period in the previous year, the business earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NMM shares. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a 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, the stock has an average rating of “Moderate Buy” and an average target price of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

A number of large investors have recently modified their holdings of the stock. Ion Asset Management Ltd. grew its stake in shares of Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after purchasing an additional 17,285 shares during the last quarter. ION Fund Management Ltd bought a new position in Navios Maritime Partners in the 4th quarter worth approximately $24,432,000. Bank of America Corp DE lifted its holdings in 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 worth $13,438,000 after buying an additional 72,754 shares in the last quarter. Walleye Capital LLC lifted its holdings in Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after buying an additional 149,858 shares in the last quarter. Finally, ING Groep NV boosted its position in Navios Maritime Partners by 51.7% in the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after buying an additional 49,900 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

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.