Navios Maritime Partners (NYSE:NMM) Insider Purchases $82,651.38 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,106 shares of the company’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $74.73 per share, for a total transaction of $82,651.38. Following the acquisition, the insider directly owned 4,746,956 shares of the company’s stock, valued at $354,740,021.88. This represents a 0.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.63 per share, with a total value of $82,391.97.
• On Friday, June 12th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou bought 1,175 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.66 per share, for a total transaction of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou acquired 1,166 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.25 per share, for a total transaction of $83,665.50.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock opened at $70.32 on Friday. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The firm’s 50 day simple moving average is $71.92 and its 200-day simple moving average is $64.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $2.02 billion, a P/E ratio of 5.92 and a beta of 1.01.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the prior year, the firm earned $1.58 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Analyst Upgrades and Downgrades

NMM has been the topic of a number of research analyst reports. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group began coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ion Asset Management Ltd. boosted its stake in shares of Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after buying 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 worth $24,432,000. Bank of America Corp DE increased its stake 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 worth $13,438,000 after acquiring an additional 72,754 shares during the last quarter. Walleye Capital LLC raised its holdings in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after acquiring an additional 149,858 shares in the last quarter. Finally, ING Groep NV boosted its position in Navios Maritime Partners by 51.7% during 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 last quarter. 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.