Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 653 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 653 shares of the stock in a transaction on Monday, August 3rd. The stock was acquired at an average cost of $79.91 per share, with a total value of $52,181.23. Following the completion of the purchase, the insider directly owned 4,783,510 shares of the company’s stock, valued at $382,250,284.10. The trade was a 0.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, August 4th, Angeliki Frangou acquired 1,041 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $78.94 per share, for a total transaction of $82,176.54.
• On Friday, July 31st, Angeliki Frangou acquired 830 shares of Navios Maritime Partners stock. The stock was bought at an average price of $80.00 per share, for a total transaction of $66,400.00.
• On Thursday, July 30th, Angeliki Frangou bought 1,068 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $78.37 per share, with a total value of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou bought 1,051 shares of Navios Maritime Partners stock. The shares were bought at an average price of $78.55 per share, with a total value of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou purchased 1,072 shares of Navios Maritime Partners stock. The shares were bought at an average price of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou purchased 1,121 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.07 per share, for a total transaction of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.03 per share, with a total value of $85,060.47.
• On Monday, July 20th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.95 per share, with a total value of $85,132.65.
• On Monday, July 27th, Angeliki Frangou bought 1,053 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $77.64 per share, for a total transaction of $81,754.92.
• On Friday, July 24th, Angeliki Frangou bought 1,084 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $79.02 per share, for a total transaction of $85,657.68.

Navios Maritime Partners Trading Down 3.3%

NYSE:NMM traded down $2.66 during midday trading on Tuesday, reaching $78.45. 133,606 shares of the stock traded hands, compared to its average volume of 112,944. The stock has a market capitalization of $2.25 billion, a P/E ratio of 6.61 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The company has a fifty day moving average of $73.62 and a 200 day moving average of $69.20. Navios Maritime Partners LP has a 12 month low of $42.77 and a 12 month high of $82.84.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same quarter last year, the firm earned $1.58 EPS. The company’s revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Navios Maritime Partners’s dividend payout ratio is currently 2.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective for the company. Weiss Ratings lowered Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ion Asset Management Ltd. raised its position 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 acquiring an additional 17,285 shares in the last quarter. ION Fund Management Ltd purchased a new stake in Navios Maritime Partners in the fourth quarter worth $24,432,000. Bank of America Corp DE raised its holdings in Navios Maritime Partners by 57.6% in 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 in the last quarter. Walleye Capital LLC boosted its holdings 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 valued at $10,090,000 after buying an additional 149,858 shares in the last quarter. Finally, ING Groep NV grew its position in shares of Navios Maritime Partners by 51.7% in the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after buying an additional 49,900 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.