Navios Maritime Partners (NYSE:NMM) Insider Buys $83,617.43 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,289 shares of Navios Maritime Partners stock in a transaction dated Monday, March 23rd. The shares were acquired at an average cost of $64.87 per share, with a total value of $83,617.43. Following the completion of the acquisition, the insider directly owned 4,678,741 shares in the company, valued at $303,509,928.67. This trade represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, March 20th, Angeliki Frangou bought 1,247 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $66.71 per share, for a total transaction of $83,187.37.
• On Thursday, March 19th, Angeliki Frangou bought 1,235 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $67.00 per share, for a total transaction of $82,745.00.

Navios Maritime Partners Price Performance

NYSE:NMM traded up $0.98 during mid-day trading on Monday, hitting $65.60. The company’s stock had a trading volume of 256,326 shares, compared to its average volume of 169,133. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 6.83 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. Navios Maritime Partners LP has a fifty-two week low of $28.37 and a fifty-two week high of $74.21. The stock has a fifty day moving average of $62.61 and a 200-day moving average of $54.24.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company had revenue of $365.55 million for the quarter, compared to the consensus estimate of $316.00 million. During the same period in the previous year, the business earned $2.61 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s payout ratio is currently 2.08%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ION Fund Management Ltd bought a new position in shares of Navios Maritime Partners in the fourth quarter worth about $24,432,000. Marnell Management LLC bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $5,027,000. ING Groep NV increased its holdings in shares of Navios Maritime Partners by 123.6% in the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after purchasing an additional 53,400 shares in the last quarter. JPMorgan Chase & Co. raised its position in Navios Maritime Partners by 150.9% in 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. Finally, Millennium Management LLC bought a new position in Navios Maritime Partners in the 4th quarter worth approximately $1,507,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Analysts Set New Price Targets

NMM has been the subject of several recent analyst reports. Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

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.