Angeliki Frangou Buys 1,203 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,203 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $71.36 per share, for a total transaction of $85,846.08. Following the completion of the acquisition, the insider directly owned 4,735,422 shares of the company’s stock, valued at $337,919,713.92. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou acquired 1,158 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.25 per share, for a total transaction of $83,665.50.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.24 per share, for a total transaction of $84,958.40.

Navios Maritime Partners Stock Performance

NMM opened at $71.41 on Friday. The firm’s fifty day simple moving average is $70.94 and its two-hundred day simple moving average is $62.84. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 6.02 and a beta of 1.01. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $80.69.

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

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid 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 dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s payout ratio is 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NMM. Royal Bank of Canada increased its position in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in Navios Maritime Partners during the first quarter worth about $63,000. State of Wyoming acquired a new stake in Navios Maritime Partners during the fourth quarter worth about $137,000. Corient Private Wealth LLC acquired a new stake in Navios Maritime Partners during the fourth quarter worth about $207,000. Finally, Mariner LLC acquired a new stake in Navios Maritime Partners during the fourth quarter worth about $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NMM shares. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.00.

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.