Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $82,318.34 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,118 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $73.63 per share, for a total transaction of $82,318.34. Following the completion of the transaction, the insider directly owned 4,730,721 shares of the company’s stock, valued at $348,322,987.23. 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 is available at this hyperlink.

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

• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The stock was 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 stock was bought at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou bought 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 bought 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.
• On Monday, May 18th, Angeliki Frangou bought 1,163 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.61 per share, for a total transaction of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou bought 1,134 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.69 per share, for a total transaction of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou bought 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou bought 1,111 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.85 per share, for a total transaction of $82,047.35.

Navios Maritime Partners Stock Down 2.0%

Shares of NYSE NMM opened at $69.73 on Friday. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $80.69. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 5.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.45. The stock’s 50-day simple moving average is $70.47 and its 200-day simple moving average is $62.15.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same period in the previous year, the company earned $1.58 earnings per share. The company’s revenue for the quarter 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. Shareholders 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 represents a $0.24 annualized dividend and a yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio (DPR) is 2.02%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Navios Maritime Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NMM. Royal Bank of Canada increased its holdings in Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after buying an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Navios Maritime Partners in the first quarter valued at about $63,000. State of Wyoming bought a new stake in Navios Maritime Partners in the fourth quarter valued at about $137,000. Corient Private Wealth LLC bought a new stake in Navios Maritime Partners in the fourth quarter valued at about $207,000. Finally, Mariner LLC bought a new stake in Navios Maritime Partners in the fourth quarter valued at about $208,000. 62.74% of the stock is owned by institutional investors.

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.