Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,116 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $74.30 per share, with a total value of $82,918.80. Following the completion of the transaction, the insider directly owned 4,729,603 shares of the company’s stock, valued at $351,409,502.90. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $77.81 per share, with a total value of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou acquired 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou acquired 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.61 per share, with a total value of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou purchased 1,134 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.69 per share, with a total value of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou purchased 1,111 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.85 per share, with a total value of $82,047.35.

Navios Maritime Partners Stock Performance

Shares of NYSE NMM opened at $73.48 on Wednesday. The stock has a 50 day moving average price of $70.21 and a 200 day moving average price of $61.84. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69. 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 stock has a market capitalization of $2.11 billion, a PE ratio of 6.19 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating the consensus estimate of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.62% and a net margin of 25.05%.The firm had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. During the same period in the prior year, the firm posted $1.58 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.06 per share. 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 payout ratio is currently 2.02%.

Analyst Ratings Changes

Several brokerages recently commented on NMM. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Finally, Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Two 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 a consensus price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

A number of large investors have recently made changes to their positions in NMM. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 7,006 shares during the period. Jump Financial LLC bought a new position in shares of Navios Maritime Partners during the second quarter worth approximately $580,000. Cerity Partners LLC bought a new position in shares of Navios Maritime Partners during the second quarter worth approximately $212,000. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 1,559 shares during the period. Finally, Ion Asset Management Ltd. increased its stake 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 period. 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.