Angeliki Frangou Purchases 1,158 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,158 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $72.25 per share, for a total transaction of $83,665.50. Following the transaction, the insider owned 4,736,580 shares of the company’s stock, valued at approximately $342,217,905. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Monday, June 1st, Angeliki Frangou purchased 1,203 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou purchased 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 purchased 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou purchased 1,132 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou purchased 1,118 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.24 per share, for a total transaction of $84,958.40.

Navios Maritime Partners Trading Down 0.0%

NYSE:NMM opened at $71.41 on Friday. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $80.69. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 6.02 and a beta of 1.01. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $70.94 and its 200-day moving average is $62.84.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same quarter last year, the firm posted $1.58 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.06 dividend. The ex-dividend date 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 dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently modified their holdings of NMM. JPMorgan Chase & Co. grew its stake in shares of Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock worth $672,000 after acquiring an additional 7,006 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Navios Maritime Partners in the second quarter worth $580,000. Cerity Partners LLC acquired a new stake in Navios Maritime Partners during the second quarter worth $212,000. BNP Paribas Financial Markets boosted 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. boosted 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. Institutional investors and hedge funds own 62.74% of the company’s stock.

Analyst Upgrades and Downgrades

NMM has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective on the stock. 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. Finally, 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Navios Maritime Partners has an average rating of “Moderate Buy” and an average price target of $85.00.

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.