Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,170 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,170 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average cost of $70.20 per share, for a total transaction of $82,134.00. Following the completion of the purchase, the insider directly owned 4,755,016 shares of the company’s stock, valued at $333,802,123.20. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The shares were acquired at an average cost 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 price of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.39 per share, with a total value 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 price of $71.10 per share, with a total value of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.18 per share, for a total transaction of $83,295.72.

Navios Maritime Partners Trading Down 2.1%

NMM opened at $69.72 on Friday. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve month high of $80.69. The company has a fifty day moving average of $72.01 and a 200-day moving average of $64.77. The stock has a market cap of $2.00 billion, a PE ratio of 5.87 and a beta of 1.01. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

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

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. The ex-dividend date was Monday, May 11th. 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%. Navios Maritime Partners’s dividend payout ratio is currently 2.02%.

Institutional Trading of Navios Maritime Partners

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock worth $672,000 after acquiring an additional 7,006 shares during the period. Jump Financial LLC bought a new position in shares of Navios Maritime Partners during the 2nd quarter valued at approximately $580,000. Cerity Partners LLC purchased a new stake in shares of Navios Maritime Partners during the 2nd quarter worth approximately $212,000. BNP Paribas Financial Markets raised its holdings in shares of Navios Maritime Partners by 25.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after purchasing an additional 1,559 shares during the period. Finally, Ion Asset Management Ltd. raised its holdings in shares of Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after purchasing an additional 17,285 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NMM. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings lowered 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 report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. One investment 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 company presently has an average rating of “Moderate 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.