Navios Maritime Partners (NYSE:NMM) Insider Buys $82,047.35 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,111 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $73.85 per share, for a total transaction of $82,047.35. Following the completion of the transaction, the insider directly owned 4,719,331 shares of the company’s stock, valued at approximately $348,522,594.35. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.62 per share, for a total transaction of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.49 per share, for a total transaction of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou acquired 1,086 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.77 per share, for a total transaction of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou acquired 1,171 shares of Navios Maritime Partners stock. The stock was bought at an average cost 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 cost 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 cost 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 cost 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 cost 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 cost of $72.08 per share, for a total transaction of $82,531.60.

Navios Maritime Partners Stock Performance

Shares of NMM traded up $0.29 during trading hours on Tuesday, hitting $73.49. The company had a trading volume of 162,309 shares, compared to its average volume of 130,393. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06. The business has a fifty day moving average of $68.85 and a 200-day moving average of $60.02. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $77.90. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share 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 analyst estimates of $316.00 million. During the same period in the prior year, the firm earned $2.61 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, May 11th will be given a dividend of $0.06 per share. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, May 11th. Navios Maritime Partners’s payout ratio is 2.50%.

Analysts Set New Price Targets

A number of research firms recently commented on NMM. 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. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently bought and sold shares of NMM. JPMorgan Chase & Co. grew its stake in Navios Maritime Partners by 64.6% during the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock worth $672,000 after buying an additional 7,006 shares in the last quarter. Jump Financial LLC acquired a new stake in Navios Maritime Partners during the second quarter worth about $580,000. Cerity Partners LLC acquired a new stake in Navios Maritime Partners during the second quarter worth about $212,000. BNP Paribas Financial Markets grew its stake in Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after buying an additional 1,559 shares in the last quarter. Finally, Ion Asset Management Ltd. grew its stake in Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after buying an additional 17,285 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

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.