Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,113 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock in a transaction on Tuesday, July 7th. The shares were bought at an average cost of $75.12 per share, with a total value of $83,608.56. Following the acquisition, the insider directly owned 4,763,242 shares in the company, valued at approximately $357,814,739.04. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou bought 1,108 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $76.14 per share, for a total transaction of $84,363.12.
• On Monday, July 6th, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou purchased 1,173 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou purchased 1,189 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.94 per share, with a total value of $82,587.12.

Navios Maritime Partners Price Performance

NYSE NMM traded down $2.14 during trading on Thursday, reaching $73.68. The company’s stock had a trading volume of 116,829 shares, compared to its average volume of 94,287. The stock has a market capitalization of $2.11 billion, a PE ratio of 6.21 and a beta of 1.00. 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 firm has a fifty day moving average of $72.45 and a 200 day moving average of $66.25. Navios Maritime Partners LP has a one year low of $37.66 and a one year high of $80.69.

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

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.06 per share. The ex-dividend date was Monday, May 11th. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NMM. Royal Bank of Canada increased its stake in shares of Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after buying an additional 202 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Navios Maritime Partners during the 1st quarter valued at $63,000. State of Wyoming purchased a new stake in Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new stake in Navios Maritime Partners in the 4th quarter worth $207,000. Finally, Mariner LLC bought a new stake in Navios Maritime Partners in the 4th quarter worth $208,000. Institutional investors own 62.74% of the company’s stock.

Analysts Set New Price Targets

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

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.