Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,113 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,113 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $75.48 per share, for a total transaction of $84,009.24. Following the completion of the purchase, the insider directly owned 4,727,380 shares of the company’s stock, valued at $356,822,642.40. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.24 per share, for a total transaction of $84,958.40.
• On Monday, May 18th, Angeliki Frangou purchased 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou acquired 1,172 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.61 per share, for a total transaction of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou acquired 1,134 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.69 per share, for a total transaction of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou acquired 1,111 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.85 per share, for a total transaction of $82,047.35.
• On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The shares were 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 shares were 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 shares were bought at an average cost of $74.77 per share, for a total transaction of $81,200.22.

Navios Maritime Partners Stock Up 0.9%

Shares of Navios Maritime Partners stock traded up $0.68 during trading hours on Wednesday, reaching $75.53. 138,476 shares of the company were exchanged, compared to its average volume of 135,390. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $77.90. The stock’s fifty day moving average is $69.21 and its 200 day moving average is $61.12. 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 firm has a market cap of $2.17 billion, a PE ratio of 7.86 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.99. The business had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.61 earnings per share.

Navios Maritime Partners Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.3%. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is currently 2.50%.

Wall Street Analyst Weigh In

Several research firms recently commented on NMM. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds have recently made changes to their positions in the company. Ion Asset Management Ltd. grew its holdings in shares of 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 purchasing an additional 17,285 shares during the last quarter. ION Fund Management Ltd purchased a new position in shares of Navios Maritime Partners during the fourth quarter worth about $24,432,000. Bank of America Corp DE grew its holdings in shares of Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Walleye Capital LLC grew its holdings in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares during the last quarter. Finally, ING Groep NV grew its holdings in shares of Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after purchasing an additional 49,900 shares during the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.