Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $83,627.22 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,167 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was bought at an average cost of $71.66 per share, with a total value of $83,627.22. Following the completion of the purchase, the insider owned 4,740,069 shares of the company’s stock, valued at approximately $339,673,344.54. This represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 8th, Angeliki Frangou bought 1,162 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.02 per share, for a total transaction of $82,525.24.
• On Thursday, June 4th, Angeliki Frangou bought 1,166 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.77 per share, for a total transaction of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.25 per share, for a total transaction of $83,665.50.
• On Monday, June 1st, Angeliki Frangou bought 1,203 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou bought 1,132 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou bought 1,118 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou bought 1,116 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.30 per share, for a total transaction of $82,918.80.

Navios Maritime Partners Trading Down 0.2%

NMM opened at $72.05 on Thursday. 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 LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The firm has a market capitalization of $2.07 billion, a PE ratio of 6.07 and a beta of 1.01. The company’s 50-day moving average is $71.42 and its 200 day moving average is $63.37.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 company had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the prior year, the business posted $1.58 EPS. The firm’s 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 issued a $0.06 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NMM. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective for the company. 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. Finally, Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Navios Maritime Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its position in shares of Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners during the 1st quarter valued at approximately $63,000. State of Wyoming bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at approximately $137,000. Corient Private Wealth LLC purchased a new stake in shares of Navios Maritime Partners during the 4th quarter valued at approximately $207,000. Finally, Mariner LLC purchased a new stake in shares of Navios Maritime Partners during the 4th quarter valued at approximately $208,000. 62.74% of the stock is owned by institutional investors.

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.