Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $81,040.26 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,099 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $73.74 per share, for a total transaction of $81,040.26. Following the completion of the purchase, the insider owned 4,765,449 shares of the company’s stock, valued at $351,404,209.26. This trade represents a 0.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, July 8th, Angeliki Frangou bought 1,108 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $76.14 per share, with a total value of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was bought at an average price of $75.12 per share, for a total transaction of $83,608.56.
• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.48 per share, with a total value of $85,577.52.
• 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, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 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 purchased 1,195 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average price 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, for a total transaction of $82,587.12.

Navios Maritime Partners Stock Performance

Shares of Navios Maritime Partners stock traded down $2.14 on Thursday, reaching $73.68. 116,829 shares of the stock were exchanged, compared to its average volume of 94,287. Navios Maritime Partners LP has a 1-year low of $37.66 and a 1-year high of $80.69. 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 business has a fifty day moving average price of $72.45 and a two-hundred day moving average price of $66.25. The firm has a market capitalization of $2.11 billion, a PE ratio of 6.21 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter last year, the firm earned $1.58 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.02%.

Institutional Trading of Navios Maritime Partners

Several large investors have recently bought and sold shares of NMM. Empowered Funds LLC increased its position in shares of Navios Maritime Partners by 74.1% in the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock valued at $736,000 after buying an additional 4,644 shares in the last quarter. Bank of America Corp DE grew its stake in Navios Maritime Partners by 57.6% in 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 last quarter. Sei Investments Co. purchased a new position in Navios Maritime Partners during the 1st quarter valued at about $1,889,000. Walleye Capital LLC raised its position in Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after acquiring an additional 149,858 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Navios Maritime Partners by 77.8% in the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after purchasing an additional 2,029 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NMM. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. 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. Finally, Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Navios Maritime Partners currently has an average rating of “Moderate Buy” and an average 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.