Navios Maritime Partners (NYSE:NMM) Insider Buys $82,430.46 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,134 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $72.69 per share, with a total value of $82,430.46. Following the purchase, the insider directly owned 4,721,603 shares of the company’s stock, valued at approximately $343,213,322.07. This represents a 0.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, May 15th, Angeliki Frangou acquired 1,172 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.61 per share, for a total transaction of $83,712.09.
• On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou acquired 1,111 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.85 per share, for a total transaction of $82,047.35.
• On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.62 per share, for a total transaction of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.49 per share, for a total transaction of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou acquired 1,086 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.77 per share, for a total transaction of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou acquired 1,171 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.08 per share, for a total transaction of $82,097.40.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $71.37 on Monday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 7.43 and a beta of 1.06. The company’s 50 day moving average is $68.82 and its 200 day moving average is $60.55. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $77.90.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The business had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. During the same period in the previous year, the company earned $2.61 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.06 dividend. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is presently 2.50%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently made changes to their positions in the stock. ION Fund Management Ltd acquired a new position in Navios Maritime Partners during the fourth quarter valued at $24,432,000. Walleye Capital LLC raised its position in shares of 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 purchasing an additional 149,858 shares during the last quarter. Marnell Management LLC acquired a new position in shares of Navios Maritime Partners during the 4th quarter worth about $5,027,000. ING Groep NV raised its position in shares of Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after purchasing an additional 53,400 shares during the last quarter. Finally, JPMorgan Chase & Co. raised 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 worth $4,589,000 after purchasing an additional 52,651 shares during the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NMM has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. 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. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.