Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,156 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,156 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $72.14 per share, with a total value of $83,393.84. Following the acquisition, the insider directly owned 4,737,736 shares in the company, valued at approximately $341,780,275.04. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.25 per share, for a total transaction of $83,665.50.
• On Monday, June 1st, Angeliki Frangou bought 1,203 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou bought 1,132 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou bought 1,118 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou bought 1,116 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.24 per share, for a total transaction of $84,958.40.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $71.64 on Thursday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 6.03 and a beta of 1.01. The company’s 50 day moving average is $70.88 and its 200 day moving average is $62.71. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $80.69.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million for 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 period last year, the company posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change 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 is 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted 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 worth $32,000 after buying an additional 202 shares during the period. Valley Wealth Managers Inc. acquired a new stake in shares of Navios Maritime Partners during the first quarter worth $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners during the fourth quarter worth $137,000. Corient Private Wealth LLC acquired a new stake in shares of Navios Maritime Partners during the fourth quarter worth $207,000. Finally, Mariner LLC purchased a new position in shares of Navios Maritime Partners during the fourth quarter worth $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NMM shares. Jefferies Financial Group started 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. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings downgraded 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate 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.