Navios Maritime Partners (NYSE:NMM) Insider Acquires $84,540.39 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,063 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of $79.53 per share, with a total value of $84,540.39. Following the acquisition, the insider directly owned 4,786,678 shares of the company’s stock, valued at $380,684,501.34. This trade represents a 0.02% increase in their position. The transaction 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 Friday, August 7th, Angeliki Frangou bought 1,054 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $78.94 per share, for a total transaction of $83,202.76.
• On Wednesday, August 5th, Angeliki Frangou bought 1,064 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $78.41 per share, for a total transaction of $83,428.24.
• On Tuesday, August 4th, Angeliki Frangou purchased 1,041 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $78.94 per share, with a total value of $82,176.54.
• On Monday, August 3rd, Angeliki Frangou purchased 653 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $79.91 per share, with a total value of $52,181.23.
• On Friday, July 31st, Angeliki Frangou purchased 830 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $80.00 per share, for a total transaction of $66,400.00.
• On Thursday, July 30th, Angeliki Frangou acquired 1,068 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $78.37 per share, for a total transaction of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou bought 1,051 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $78.55 per share, with a total value of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou purchased 1,121 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.07 per share, for a total transaction of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.03 per share, with a total value of $85,060.47.

Navios Maritime Partners Stock Down 0.3%

Shares of NMM opened at $79.09 on Monday. The firm has a market cap of $2.27 billion, a P/E ratio of 6.66 and a beta of 1.02. Navios Maritime Partners LP has a 12-month low of $42.77 and a 12-month high of $82.84. The company’s 50-day moving average price is $74.14 and its 200 day moving average price is $69.68. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last announced its 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 company had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. Navios Maritime Partners’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 earnings per share.

Navios Maritime Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is presently 2.02%.

Analyst Ratings Changes

Several research firms have weighed in on NMM. Jefferies Financial Group started coverage on Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. ION Fund Management Ltd acquired a new position in shares of Navios Maritime Partners during the fourth quarter worth $24,432,000. Walleye Capital LLC raised its position in shares of Navios Maritime Partners by 45,274.3% during the 1st 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. Marnell Management LLC purchased a new stake in Navios Maritime Partners during the fourth quarter worth approximately $5,027,000. Bank of America Corp DE boosted its holdings in 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Navios Maritime Partners by 150.9% in the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock valued at $4,589,000 after purchasing an additional 52,651 shares in the last quarter. 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.