Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,126 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,126 shares of the stock in a transaction dated Wednesday, June 17th. The stock was acquired at an average cost of $73.35 per share, with a total value of $82,592.10. Following the transaction, the insider directly owned 4,749,201 shares in the company, valued at approximately $348,353,893.35. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.10 per share, with a total value of $81,836.10.
• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou bought 1,175 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou bought 1,162 shares of Navios Maritime Partners stock. The shares were bought 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 bought at an average price of $71.66 per share, for a total transaction of $83,627.22.

Navios Maritime Partners Stock Performance

Shares of NYSE NMM traded up $1.40 during midday trading on Monday, reaching $71.56. The company had a trading volume of 74,616 shares, compared to its average volume of 109,682. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $80.69. The business’s 50-day simple moving average is $71.91 and its 200 day simple moving average is $64.44. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.05 billion, a P/E ratio of 6.03 and a beta of 1.02.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 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 business’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 dividend on an annualized basis 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 payout ratio is presently 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors have recently added to or reduced their stakes in NMM. Empowered Funds LLC increased its holdings in Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after acquiring an additional 4,644 shares in the last quarter. Bank of America Corp DE grew its position in shares of Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after purchasing an additional 72,754 shares during the period. Sei Investments Co. acquired a new stake in shares of Navios Maritime Partners in the first quarter valued at about $1,889,000. Walleye Capital LLC increased its stake 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 in the last quarter. Finally, State of Wyoming increased its stake in shares of Navios Maritime Partners by 77.8% during the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock worth $313,000 after purchasing an additional 2,029 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NMM. 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 price objective on the stock. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Weiss Ratings lowered Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.00.

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.