Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,155 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,155 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $73.34 per share, with a total value of $84,707.70. Following the acquisition, the insider directly owned 4,744,715 shares in the company, valued at $347,977,398.10. This 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 hyperlink.

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

• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.66 per share, for a total transaction of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.77 per share, for a total transaction of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.25 per share, for a total transaction of $83,665.50.
• On Monday, June 1st, Angeliki Frangou purchased 1,203 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $70.65 per share, with a total value of $82,660.50.

Navios Maritime Partners Trading Up 1.4%

Shares of NYSE:NMM traded up $1.04 during trading on Thursday, reaching $73.16. The company’s stock had a trading volume of 125,905 shares, compared to its average volume of 134,769. 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 LP has a 12 month low of $36.62 and a 12 month high of $80.69. The firm’s 50 day simple moving average is $71.53 and its two-hundred day simple moving average is $63.51. The stock has a market capitalization of $2.10 billion, a PE ratio of 6.16 and a beta of 1.01.

Navios Maritime Partners (NYSE:NMM) last announced 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 firm had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same quarter last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. 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. Navios Maritime Partners’s payout ratio is 2.02%.

Wall Street Analysts Forecast Growth

NMM has been the subject of a number of analyst reports. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. 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 target price on the stock. 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 investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Navios Maritime Partners by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock valued at $1,572,000 after acquiring an additional 17,040 shares during the last quarter. Arbiter Partners Capital Management LLC bought a new position in Navios Maritime Partners in the 3rd quarter valued at $1,117,000. ING Groep NV grew its position in Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after acquiring an additional 53,400 shares during the last quarter. Live Oak Investment Partners grew its position in Navios Maritime Partners by 6.8% in the 4th quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company’s stock valued at $1,692,000 after acquiring an additional 2,063 shares during the last quarter. Finally, Sei Investments Co. bought a new position in Navios Maritime Partners in the 1st quarter valued at $1,889,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.