Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $81,200.22 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,086 shares of the stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $74.77 per share, for a total transaction of $81,200.22. Following the completion of the purchase, the insider owned 4,715,921 shares in the company, valued at approximately $352,609,413.17. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, May 7th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.49 per share, for a total transaction of $82,276.15.
• On Tuesday, May 5th, Angeliki Frangou acquired 1,171 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.08 per share, for a total transaction of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou acquired 1,176 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.72 per share, for a total transaction of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.08 per share, for a total transaction of $82,531.60.
• On Monday, April 27th, Angeliki Frangou bought 1,185 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.44 per share, for a total transaction of $84,656.40.
• On Friday, April 24th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $70.39 per share, for a total transaction of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $70.22 per share, for a total transaction of $83,351.14.

Navios Maritime Partners Stock Up 4.7%

Shares of NYSE:NMM opened at $74.90 on Friday. Navios Maritime Partners LP has a 52 week low of $36.61 and a 52 week high of $77.90. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. The company’s fifty day moving average is $68.61 and its 200-day moving average is $59.42. The company has a market capitalization of $2.15 billion, a PE ratio of 7.79 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, beating the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The company had revenue of $365.55 million for the quarter, compared to the consensus estimate of $316.00 million. During the same quarter in the previous year, the company earned $2.61 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is presently 2.08%.

Institutional Trading of Navios Maritime Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in NMM. Royal Bank of Canada grew its stake in shares of Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Navios Maritime Partners during the first quarter valued at approximately $63,000. State of Wyoming bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $207,000. Finally, Mariner LLC bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NMM has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Navios Maritime Partners has an average rating of “Buy” and an average target price 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.