Angeliki Frangou Buys 1,162 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of $71.02 per share, with a total value of $82,525.24. Following the completion of the transaction, the insider owned 4,741,231 shares in the company, valued at approximately $336,722,225.62. This represents a 0.02% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.25 per share, with a total value of $83,665.50.
• On Monday, June 1st, Angeliki Frangou purchased 1,203 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou purchased 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 purchased 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 Wednesday, May 27th, Angeliki Frangou purchased 1,132 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou purchased 1,118 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.30 per share, with a total value of $82,918.80.

Navios Maritime Partners Trading Up 1.5%

Shares of NYSE:NMM opened at $71.95 on Wednesday. The business’s 50-day moving average is $71.27 and its 200 day moving average is $63.23. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $80.69. The firm has a market capitalization of $2.06 billion, a P/E ratio of 6.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same period in the prior year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio is currently 2.02%.

Wall Street Analyst Weigh In

NMM has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings lowered Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Ion Asset Management Ltd. increased its holdings in shares of Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after purchasing an additional 17,285 shares during the period. ION Fund Management Ltd acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at about $24,432,000. Bank of America Corp DE increased its holdings in shares of 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 valued at $13,438,000 after purchasing an additional 72,754 shares during the period. Walleye Capital LLC increased its holdings in shares of 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 purchasing an additional 149,858 shares during the period. Finally, ING Groep NV increased its holdings in shares of Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after purchasing an additional 49,900 shares during the period. 62.74% of the stock is owned by institutional investors and hedge funds.

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.