Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,132 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,132 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was bought at an average cost of $72.61 per share, with a total value of $82,194.52. Following the acquisition, the insider owned 4,731,853 shares in the company, valued at approximately $343,579,846.33. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $70.65 per share, with a total value of $82,660.50.
• On Tuesday, May 26th, Angeliki Frangou bought 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou bought 1,116 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.30 per share, with a total value of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou bought 1,107 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $77.81 per share, with a total value of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou bought 1,160 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou bought 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.61 per share, with a total value of $83,712.09.

Navios Maritime Partners Price Performance

Shares of Navios Maritime Partners stock traded down $0.43 during mid-day trading on Friday, reaching $69.23. 150,803 shares of the stock traded hands, compared to its average volume of 158,294. The business has a 50-day moving average of $70.51 and a 200 day moving average of $62.20. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The stock has a market capitalization of $1.98 billion, a PE ratio of 5.83 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last announced its 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. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.06 per share. 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is currently 2.02%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NMM. Weiss Ratings lowered Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Jefferies Financial Group started coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Finally, Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of NMM. ION Fund Management Ltd acquired a new stake in Navios Maritime Partners in the fourth quarter valued at $24,432,000. 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 buying an additional 149,858 shares in the last quarter. Marnell Management LLC acquired a new stake in Navios Maritime Partners in the fourth quarter valued at $5,027,000. Bank of America Corp DE grew its holdings in shares of Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Finally, ING Groep NV grew its holdings in shares of Navios Maritime Partners by 123.6% during the third 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. 62.74% of the stock is currently owned by institutional investors and hedge funds.

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.